Belden Inc. (NYSE:BDC) Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Belden Inc. (NYSE:BDC) by 32.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,759 shares of the industrial products company’s stock after buying an additional 3,120 shares during the quarter. Cerity Partners LLC’s holdings in Belden were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BDC. Matrix Trust Co purchased a new stake in Belden in the 3rd quarter worth about $25,000. GAMMA Investing LLC increased its holdings in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Belden during the 3rd quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the 2nd quarter valued at about $28,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 209 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BDC. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark boosted their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden currently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Price Performance

Belden stock opened at $122.73 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The firm has a market cap of $4.95 billion, a P/E ratio of 28.54 and a beta of 1.08. The business’s fifty day moving average is $119.57 and its two-hundred day moving average is $105.38. Belden Inc. has a 52 week low of $67.46 and a 52 week high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million for 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 revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Equities research analysts forecast that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

About Belden

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.