Ritholtz Wealth Management Grows Position in Belden Inc. (NYSE:BDC)

Ritholtz Wealth Management grew its stake in Belden Inc. (NYSE:BDC) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,679 shares of the industrial products company’s stock after acquiring an additional 479 shares during the quarter. Ritholtz Wealth Management’s holdings in Belden were worth $665,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Belden by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after purchasing an additional 149,263 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Belden in the fourth quarter valued at approximately $410,000. Moody National Bank Trust Division lifted its stake in shares of Belden by 14.3% during the first quarter. Moody National Bank Trust Division now owns 15,521 shares of the industrial products company’s stock valued at $1,437,000 after buying an additional 1,941 shares during the period. NBC Securities Inc. boosted its position in Belden by 4.3% during the first quarter. NBC Securities Inc. now owns 7,506 shares of the industrial products company’s stock worth $695,000 after acquiring an additional 308 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in Belden in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the sale, the senior vice president now owns 39,385 shares of the company’s stock, valued at $3,812,074.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at $667,444.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares of the company’s stock, valued at $3,812,074.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,318 shares of company stock valued at $1,020,715 over the last three months. 1.59% of the stock is owned by company insiders.

Belden Price Performance

BDC stock opened at $118.67 on Wednesday. The company has a market cap of $4.83 billion, a PE ratio of 23.22 and a beta of 1.07. 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 stock has a 50-day moving average price of $107.53 and a two-hundred day moving average price of $97.41. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $123.03.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 8.51% and a return on equity of 21.13%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, research analysts predict that Belden Inc. will post 6.04 EPS for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio is currently 3.91%.

Analysts Set New Price Targets

BDC has been the topic of a number of recent analyst reports. Benchmark increased their price target on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $112.00.

Belden Company 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.