JPMorgan Chase & Co. Buys 23,936 Shares of Belden Inc. (NYSE:BDC)

JPMorgan Chase & Co. raised its position in shares of Belden Inc. (NYSE:BDC) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 182,973 shares of the industrial products company’s stock after acquiring an additional 23,936 shares during the period. JPMorgan Chase & Co.’s holdings in Belden were worth $21,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Belden during the second quarter valued at approximately $201,000. Texas Permanent School Fund Corp boosted its holdings in shares of Belden by 18.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 43,123 shares of the industrial products company’s stock valued at $4,045,000 after buying an additional 6,643 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Belden in the 2nd quarter worth about $503,000. Thoroughbred Financial Services LLC bought a new position in shares of Belden in the 2nd quarter worth about $254,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Belden by 18.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,877 shares of the industrial products company’s stock valued at $1,583,000 after acquiring an additional 2,574 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

BDC has been the topic of a number of recent research reports. Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. 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. Five equities 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 target price of $122.75.

Belden Stock Performance

Shares of BDC stock opened at $115.95 on Thursday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 26.97 and a beta of 1.09. 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 Inc. has a one year low of $71.20 and a one year high of $131.82. The company’s 50-day moving average is $119.32 and its 200 day moving average is $109.42.

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

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given 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 dividend yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insider Buying and Selling

In related 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 value of $386,460.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.59% of the stock is owned by corporate insiders.

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.