5,193 Shares in Belden Inc. (NYSE:BDC) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in Belden Inc. (NYSE:BDC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,193 shares of the industrial products company’s stock, valued at approximately $608,000.

A number of other institutional investors also recently bought and sold shares of the company. Atria Investments Inc increased its position in shares of Belden by 9.5% during the 3rd quarter. Atria Investments Inc now owns 6,340 shares of the industrial products company’s stock valued at $743,000 after purchasing an additional 552 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Belden by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 148 shares during the period. Foster & Motley Inc. boosted its stake in shares of Belden by 25.3% during the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after acquiring an additional 7,819 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Belden by 126.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company’s stock valued at $3,924,000 after acquiring an additional 18,678 shares during the period. Finally, F M Investments LLC increased its stake in shares of Belden by 2.3% in the 3rd quarter. F M Investments LLC now owns 138,033 shares of the industrial products company’s stock worth $16,168,000 after purchasing an additional 3,070 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BDC shares. Truist Financial boosted their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark increased their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Vertical Research assumed coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $122.75.

Belden Price Performance

Shares of Belden stock opened at $118.61 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Belden Inc. has a 52 week low of $65.52 and a 52 week high of $131.82. The stock’s 50-day simple moving average is $115.88 and its 200-day simple moving average is $102.87. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 27.58 and a beta of 1.07.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period in the prior year, the company posted $1.78 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts expect that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s payout ratio is currently 4.65%.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.