Belden Inc. (NYSE:BDC) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Belden Inc. (NYSE:BDC) by 30.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,595 shares of the industrial products company’s stock after purchasing an additional 3,669 shares during the period. Intech Investment Management LLC’s holdings in Belden were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of Belden during the 3rd quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Belden in the second quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Belden during the 3rd quarter worth $33,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Activity at Belden

In other news, CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.59% of the company’s stock.

Belden Stock Up 2.4 %

Belden stock opened at $123.52 on Monday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. The firm has a fifty day moving average price of $117.84 and a two-hundred day moving average price of $104.10. Belden Inc. has a fifty-two week low of $65.52 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

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

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BDC. Truist Financial upped their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark upped their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $122.75.

Belden 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.