Belden Inc. (NYSE:BDC) Stock Position Raised by Captrust Financial Advisors

Captrust Financial Advisors raised its position in shares of Belden Inc. (NYSE:BDC) by 38.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,411 shares of the industrial products company’s stock after purchasing an additional 1,497 shares during the period. Captrust Financial Advisors’ holdings in Belden were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Capstone Investment Advisors LLC acquired a new stake in Belden in the 3rd quarter valued at approximately $257,000. Martingale Asset Management L P lifted its position in shares of Belden by 38.2% during the 3rd quarter. Martingale Asset Management L P now owns 5,793 shares of the industrial products company’s stock worth $679,000 after buying an additional 1,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Belden by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,180 shares of the industrial products company’s stock valued at $11,851,000 after purchasing an additional 674 shares during the last quarter. BNP Paribas Financial Markets raised its position in Belden by 20.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,217 shares of the industrial products company’s stock valued at $1,782,000 after purchasing an additional 2,623 shares during the last quarter. Finally, FMR LLC raised its position in Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Belden Stock Performance

Shares of NYSE BDC opened at $123.07 on Thursday. The stock has a 50 day moving average price of $120.42 and a 200 day moving average price of $106.61. Belden Inc. has a 52 week low of $71.19 and a 52 week high of $131.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The stock has a market capitalization of $4.96 billion, a PE ratio of 28.62 and a beta of 1.08.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (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 company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same period last year, the firm posted $1.78 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.16%. Belden’s payout ratio is currently 4.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark boosted their target price on 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 target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $122.75.

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.