BNP Paribas Financial Markets Grows Holdings in Belden Inc. (NYSE:BDC)

BNP Paribas Financial Markets raised its position in shares of Belden Inc. (NYSE:BDC) by 20.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,217 shares of the industrial products company’s stock after purchasing an additional 2,623 shares during the period. BNP Paribas Financial Markets’ holdings in Belden were worth $1,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BDC. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter valued at $28,000. SG Americas Securities LLC lifted its position in shares of Belden by 1.4% in the second quarter. SG Americas Securities LLC now owns 34,116 shares of the industrial products company’s stock valued at $3,200,000 after acquiring an additional 481 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Belden in the second quarter valued at about $371,000. Blue Trust Inc. boosted its stake in shares of Belden by 666.9% in the second quarter. Blue Trust Inc. now owns 5,506 shares of the industrial products company’s stock worth $510,000 after acquiring an additional 4,788 shares during the period. Finally, Leeward Investments LLC MA grew its position in shares of Belden by 5.6% during the second quarter. Leeward Investments LLC MA now owns 73,160 shares of the industrial products company’s stock worth $6,862,000 after purchasing an additional 3,905 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Belden Price Performance

Shares of Belden stock opened at $122.39 on Friday. The firm has a market cap of $4.94 billion, a PE ratio of 28.46 and a beta of 1.08. The stock has a 50 day moving average of $120.10 and a 200 day moving average of $106.09. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. Belden Inc. has a 12 month low of $69.33 and a 12 month high of $131.82.

Belden (NYSE:BDC) last posted its earnings results 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 firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period in the prior year, the company earned $1.78 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

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 0.16%. Belden’s dividend payout ratio (DPR) is presently 4.65%.

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.