Waters Parkerson & CO. LLC Grows Holdings in Belden Inc. (NYSE:BDC)

Waters Parkerson & CO. LLC boosted its holdings in shares of Belden Inc. (NYSE:BDC) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 214,322 shares of the industrial products company’s stock after purchasing an additional 4,636 shares during the period. Waters Parkerson & CO. LLC owned approximately 0.53% of Belden worth $20,103,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BDC. State of Michigan Retirement System lifted its stake in shares of Belden by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC lifted its position in Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares during the period. Atlas Capital Advisors LLC boosted its holdings in Belden by 16.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 246 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Belden by 3.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 269 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Belden by 3.1% during the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock worth $882,000 after buying an additional 290 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on BDC shares. Vertical Research initiated coverage on Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Truist Financial upped their price target on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Benchmark raised their price objective on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were 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 approximately $1,919,289.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Belden news, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,137 shares of company stock valued at $1,095,457. 1.59% of the stock is owned by insiders.

Belden Stock Performance

NYSE:BDC opened at $110.13 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.48 billion, a P/E ratio of 21.55 and a beta of 1.07. The firm has a 50-day moving average price of $99.31 and a two-hundred day moving average price of $93.76. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $110.34.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. As a group, research analysts expect that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s payout ratio 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.