Proficio Capital Partners LLC Buys New Shares in Belden Inc. (NYSE:BDC)

Proficio Capital Partners LLC purchased a new position in shares of Belden Inc. (NYSE:BDC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,225 shares of the industrial products company’s stock, valued at approximately $2,841,000. Proficio Capital Partners LLC owned 0.06% of Belden as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Belden in the third quarter worth $33,000. First Horizon Advisors Inc. boosted its holdings in Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 199 shares during the period. Principal Securities Inc. raised its stake in shares of Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after buying an additional 105 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock valued at $148,000 after buying an additional 274 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 $103.76 on Wednesday. The company’s 50-day moving average is $112.16 and its two-hundred day moving average is $114.82. Belden Inc. has a 1-year low of $80.90 and a 1-year high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 21.57 and a beta of 1.02.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. Analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, March 13th. Belden’s dividend payout ratio is currently 4.16%.

Insider Activity at Belden

In other news, SVP Leah Tate sold 2,400 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory James Mccray sold 4,200 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now owns 4,199 shares of the company’s stock, valued at approximately $441,776.79. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,428 shares of company stock worth $2,589,774. Company insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Belden in a research report on Monday, February 10th. Finally, Loop Capital cut their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $130.25.

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.