Edgestream Partners L.P. Makes New Investment in Belden Inc. (NYSE:BDC)

Edgestream Partners L.P. acquired a new position in shares of Belden Inc. (NYSE:BDC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,379 shares of the industrial products company’s stock, valued at approximately $223,000.

Other large investors have also recently bought and sold shares of the company. State of Michigan Retirement System boosted its stake in shares of Belden by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares in the last quarter. Atlas Capital Advisors LLC increased its stake in shares of Belden by 16.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 246 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Belden by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 269 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after acquiring an additional 290 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Belden

In related 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 transaction of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at $1,919,289.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related 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 transaction of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at $1,919,289.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. Insiders sold a total of 11,137 shares of company stock worth $1,095,457 over the last quarter. 1.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BDC. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Truist Financial lifted their price objective on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research assumed coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Benchmark lifted their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.50.

Belden Stock Up 1.2 %

Shares of BDC opened at $113.83 on Tuesday. The firm has a market cap of $4.63 billion, a P/E ratio of 22.28 and a beta of 1.07. The stock has a 50 day simple moving average of $100.29 and a two-hundred day simple moving average of $94.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $114.86.

Belden (NYSE:BDC) last issued its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. Belden’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 earnings per share. On average, analysts forecast that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 3.91%.

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.