Oppenheimer Asset Management Inc. Acquires 2,574 Shares of Belden Inc. (NYSE:BDC)

Oppenheimer Asset Management Inc. increased its holdings in shares of Belden Inc. (NYSE:BDC) by 18.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,877 shares of the industrial products company’s stock after purchasing an additional 2,574 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Belden were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Belden by 2.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock valued at $128,148,000 after acquiring an additional 30,268 shares during the period. Wellington Management Group LLP boosted its holdings in Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the last quarter. Pzena Investment Management LLC grew its position in Belden by 32.5% in the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after purchasing an additional 224,486 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Belden by 13.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock valued at $47,245,000 after buying an additional 72,775 shares during the last quarter. Finally, Southernsun Asset Management LLC lifted its holdings in shares of Belden by 15.3% during the 4th quarter. Southernsun Asset Management LLC now owns 534,618 shares of the industrial products company’s stock valued at $41,299,000 after buying an additional 71,118 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial lifted their price objective on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Benchmark raised their price objective on shares of Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Belden has a consensus rating of “Moderate Buy” and an average price target of $112.50.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at approximately $1,919,289.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Belden news, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,137 shares of company stock valued at $1,095,457. 1.59% of the stock is owned by company insiders.

Belden Price Performance

NYSE BDC opened at $106.63 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $110.34. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 20.87 and a beta of 1.07. The company’s 50 day moving average is $99.03 and its two-hundred day moving average is $93.67.

Belden (NYSE:BDC) last released its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The company had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, research analysts anticipate that Belden Inc. will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio is currently 3.91%.

About Belden

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.