Edgestream Partners L.P. Purchases New Stake in Belden Inc. (NYSE:BDC)

Edgestream Partners L.P. acquired a new position in shares of Belden Inc. (NYSE:BDC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,379 shares of the industrial products company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Belden in the second quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in Belden in the 1st quarter valued at about $32,000. Whittier Trust Co. raised its holdings in Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares during the period. Quadrant Capital Group LLC boosted its stake in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares during the period. Finally, TFO Wealth Partners LLC increased its position in shares of Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Vertical Research assumed coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Truist Financial upped 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. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, Benchmark upped their price objective on shares of Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.50.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction 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 directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction dated 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 directly owns 32,829 shares of the company’s stock, valued at $3,298,001.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian Lieser sold 819 shares of the business’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 sale, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,137 shares of company stock worth $1,095,457. 1.59% of the stock is currently owned by company insiders.

Belden Trading Up 1.2 %

Shares of BDC stock opened at $113.83 on Tuesday. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 22.28 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. Belden Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $114.86. The firm’s 50 day moving average price is $100.29 and its two-hundred day moving average price is $94.31.

Belden (NYSE:BDC) last released its 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 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 business’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 EPS. On average, analysts anticipate that Belden Inc. will post 6.04 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

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.