Belden Inc. (NYSE:BDC) Stock Position Raised by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in Belden Inc. (NYSE:BDC) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,428 shares of the industrial products company’s stock after acquiring an additional 397 shares during the period. HighTower Advisors LLC’s holdings in Belden were worth $402,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BDC. FMR LLC boosted its position in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the period. Renaissance Technologies LLC lifted its holdings in Belden by 15.8% in the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after purchasing an additional 42,600 shares during the period. Waters Parkerson & CO. LLC grew its position in Belden by 2.2% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company’s stock valued at $20,103,000 after buying an additional 4,636 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in Belden by 60.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 167,430 shares of the industrial products company’s stock valued at $15,705,000 after buying an additional 63,216 shares during the period. Finally, F M Investments LLC raised its position in shares of Belden by 2.3% during the 3rd quarter. F M Investments LLC now owns 138,033 shares of the industrial products company’s stock worth $16,168,000 after buying an additional 3,070 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Insider Transactions at Belden

In other 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 value of $155,556.76. Following the completion of the sale, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at $1,132,956.07. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.59% of the stock is currently owned by insiders.

Belden Stock Down 0.8 %

BDC stock opened at $113.74 on Friday. The firm has a market cap of $4.59 billion, a PE ratio of 26.45 and a beta of 1.08. Belden Inc. has a 12 month low of $71.20 and a 12 month high of $131.82. 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 50 day simple moving average of $120.51 and a 200 day simple moving average of $107.63.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating 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 company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the prior year, the firm earned $1.78 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. Belden’s payout ratio is currently 4.65%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BDC shares. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark increased 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target 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.