Belden Inc. (NYSE:BDC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Belden Inc. (NYSE:BDC) by 72.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279 shares of the industrial products company’s stock after acquiring an additional 117 shares during the period. GAMMA Investing LLC’s holdings in Belden were worth $33,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Belden by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after purchasing an additional 149,263 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Belden in the 4th quarter valued at about $410,000. Hennessy Advisors Inc. raised its position in shares of Belden by 43.8% during the 1st quarter. Hennessy Advisors Inc. now owns 53,200 shares of the industrial products company’s stock worth $4,927,000 after acquiring an additional 16,200 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Belden by 22.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 29,042 shares of the industrial products company’s stock worth $2,690,000 after purchasing an additional 5,306 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Belden by 2.2% in the first 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 purchasing an additional 30,268 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Price Performance

Shares of NYSE:BDC opened at $119.92 on Friday. Belden Inc. has a one year low of $60.54 and a one year high of $123.03. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 23.47 and a beta of 1.07. The company has a 50-day simple moving average of $109.16 and a 200-day simple moving average of $97.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70.

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

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio is currently 3.91%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BDC. Vertical Research started coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Truist Financial lifted their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Benchmark raised their price target on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus price target of $112.00.

Insiders Place Their Bets

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, the director now owns 6,954 shares in the company, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is owned by insiders.

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.