70,278 Shares in Belden Inc. (NYSE:BDC) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Belden Inc. (NYSE:BDC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 70,278 shares of the industrial products company’s stock, valued at approximately $82,320,000.

Several other large investors have also recently added to or reduced their stakes in BDC. Hennion & Walsh Asset Management Inc. raised its holdings 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 in the last quarter. State of Michigan Retirement System raised its holdings in Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Belden by 2.0% during the first quarter. Principal Financial Group Inc. now owns 171,484 shares of the industrial products company’s stock worth $15,881,000 after purchasing an additional 3,386 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Belden by 15.7% during the first quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company’s stock worth $22,631,000 after purchasing an additional 33,160 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Belden by 11.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company’s stock worth $9,787,000 after purchasing an additional 11,010 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’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 sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,318 shares of company stock worth $1,020,715 over the last ninety days. 1.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on BDC shares. Truist Financial increased their target price on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. 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. Finally, Benchmark increased their target price on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has a consensus rating of “Buy” and an average price target of $112.00.

Belden Stock Down 0.8 %

BDC stock opened at $116.55 on Friday. The company’s 50 day simple moving average is $111.01 and its 200-day simple moving average is $98.98. The firm has a market capitalization of $4.74 billion, a PE ratio of 22.81 and a beta of 1.07. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $123.03. 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 (NYSE:BDC) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 earnings per share. Equities analysts expect that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

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