First Horizon Advisors Inc. Acquires 209 Shares of Belden Inc. (NYSE:BDC)

First Horizon Advisors Inc. raised its holdings in shares of Belden Inc. (NYSE:BDC) by 97.7% during the third quarter, HoldingsChannel reports. The fund owned 423 shares of the industrial products company’s stock after purchasing an additional 209 shares during the quarter. First Horizon Advisors Inc.’s holdings in Belden were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BDC. Tidal Investments LLC raised its stake in shares of Belden by 198.4% during the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after purchasing an additional 8,169 shares during the period. GSA Capital Partners LLP purchased a new position in Belden during the 3rd quarter valued at about $687,000. Public Employees Retirement Association of Colorado raised its stake in Belden by 1,724.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after purchasing an additional 98,503 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Belden during the third quarter valued at approximately $608,000. Finally, Foster & Motley Inc. increased its holdings in shares of Belden by 25.3% in the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after buying an additional 7,819 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC 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 company has a 50-day simple moving average of $117.84 and a two-hundred day simple moving average of $104.10. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Belden Inc. has a 12-month low of $65.52 and a 12-month high of $131.82.

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

Belden Dividend Announcement

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

Insider Activity at Belden

In related news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total value of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares in the company, valued at $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

BDC has been the subject of a number of research analyst reports. Benchmark lifted their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial lifted their price target on Belden from $124.00 to $136.00 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, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.