Jane Street Group LLC Has $2.72 Million Stock Position in Belden Inc. (NYSE:BDC)

Jane Street Group LLC lowered its position in Belden Inc. (NYSE:BDC) by 72.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,229 shares of the industrial products company’s stock after selling 60,271 shares during the period. Jane Street Group LLC’s holdings in Belden were worth $2,721,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of Belden during the 3rd quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after buying an additional 117 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Belden during the third quarter worth $33,000. First Horizon Advisors Inc. raised its holdings in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares during the period. Finally, Innealta Capital LLC bought a new position in Belden during the 2nd quarter worth about $95,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Benchmark upped their price objective 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 raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $122.75.

Belden Price Performance

NYSE:BDC opened at $113.74 on Friday. The company has a market cap of $4.59 billion, a P/E ratio of 26.45 and a beta of 1.08. Belden Inc. has a 52-week low of $71.20 and a 52-week high of $131.82. The stock’s 50-day simple moving average is $120.51 and its 200 day simple moving average is $107.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07.

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

Belden Dividend Announcement

The firm 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s payout ratio is currently 4.65%.

Insiders Place Their Bets

In other Belden news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.59% of the company’s stock.

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.