Foster & Motley Inc. Buys 7,819 Shares of Belden Inc. (NYSE:BDC)

by · The Markets Daily

Foster & Motley Inc. raised its stake in Belden Inc. (NYSE:BDC – Free Report) by 25.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,675 shares of the industrial products company’s stock after acquiring an additional 7,819 shares during the period. Foster & Motley Inc. owned approximately 0.09% of Belden worth $4,530,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Belden by 11.6% in 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 buying an additional 11,010 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Belden by 9.4% during the 1st quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock valued at $2,713,000 after acquiring an additional 2,507 shares during the last quarter. Whittier Trust Co. increased its position in Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 298 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Belden by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock valued at $3,378,000 after purchasing an additional 472 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Belden by 34.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 14,303 shares of the industrial products company’s stock valued at $1,325,000 after purchasing an additional 3,701 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

Belden stock opened at $118.45 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The firm has a market capitalization of $4.78 billion, a P/E ratio of 27.55 and a beta of 1.07. Belden Inc. has a 1-year low of $63.00 and a 1-year high of $123.03. The company’s 50-day moving average is $112.63 and its 200 day moving average is $100.69.

Belden (NYSE:BDC – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. During the same period last year, the company earned $1.78 EPS. Belden’s quarterly revenue was up 4.5% compared to the same quarter last year. Research 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 was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is 4.65%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Benchmark boosted their target price 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 upped their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research started coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $122.75.

Read Our Latest Research Report on Belden

Insider Transactions at Belden

In related news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Doug Zink sold 1,324 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the sale, the chief accounting officer now owns 9,643 shares of the company’s stock, valued at $1,132,956.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This represents 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 9,142 shares of company stock valued at $936,322. Company insiders own 1.59% of the company’s stock.

Belden Company Profile

(Free Report)

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.

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