Citigroup Inc. Has $3.80 Million Holdings in Belden Inc. (NYSE:BDC)

Citigroup Inc. lifted its holdings in Belden Inc. (NYSE:BDC) by 157.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,453 shares of the industrial products company’s stock after acquiring an additional 19,849 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Belden worth $3,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BDC. Janus Henderson Group PLC boosted its holdings in shares of Belden by 20.4% in the 1st quarter. Janus Henderson Group PLC now owns 24,110 shares of the industrial products company’s stock worth $2,231,000 after acquiring an additional 4,093 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Belden by 269.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,827 shares of the industrial products company’s stock worth $1,391,000 after purchasing an additional 10,819 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Belden in the 2nd quarter worth approximately $28,000. SG Americas Securities LLC raised its position in Belden by 1.4% in the 2nd quarter. SG Americas Securities LLC now owns 34,116 shares of the industrial products company’s stock worth $3,200,000 after purchasing an additional 481 shares during the last quarter. Finally, Twelve Points Wealth Management LLC raised its position in Belden by 7.9% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 21,460 shares of the industrial products company’s stock worth $2,013,000 after purchasing an additional 1,564 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial boosted their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $122.75.

Belden Price Performance

Shares of BDC stock opened at $122.73 on Wednesday. Belden Inc. has a 12-month low of $67.46 and a 12-month high of $131.82. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 28.54 and a beta of 1.08. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average of $119.57 and a 200-day moving average of $105.38.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, equities research analysts forecast that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 annualized dividend and a yield of 0.16%. Belden’s dividend payout ratio is currently 4.65%.

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.