Oppenheimer Asset Management Inc. Boosts Position in Belden Inc. (NYSE:BDC)

Oppenheimer Asset Management Inc. increased its holdings in shares of Belden Inc. (NYSE:BDC) by 34.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,303 shares of the industrial products company’s stock after purchasing an additional 3,701 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Belden were worth $1,325,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BDC. Teachers Retirement System of The State of Kentucky increased its position in Belden by 96.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 14,281 shares of the industrial products company’s stock worth $1,378,000 after buying an additional 7,002 shares during the period. Vanguard Group Inc. increased its position in Belden by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after buying an additional 92,544 shares during the period. First Hawaiian Bank increased its position in Belden by 14.4% during the fourth quarter. First Hawaiian Bank now owns 14,095 shares of the industrial products company’s stock worth $1,089,000 after buying an additional 1,779 shares during the period. Moody National Bank Trust Division increased its position in Belden by 29.9% during the fourth quarter. Moody National Bank Trust Division now owns 13,580 shares of the industrial products company’s stock worth $1,049,000 after buying an additional 3,123 shares during the period. Finally, Twelve Points Wealth Management LLC increased its position in Belden by 3.0% during the fourth quarter. Twelve Points Wealth Management LLC now owns 18,145 shares of the industrial products company’s stock worth $1,402,000 after buying an additional 526 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Trading Up 1.6 %

Shares of BDC stock opened at $96.03 on Monday. The business’s fifty day moving average price is $94.03 and its 200 day moving average price is $86.59. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $99.13. The firm has a market capitalization of $3.91 billion, a PE ratio of 18.79 and a beta of 1.06. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. During the same quarter in the prior year, the company posted $1.68 earnings per share. Belden’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Belden Inc. will post 5.85 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.21%. Belden’s payout ratio is 3.91%.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the sale, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total value of $156,345.03. Following the completion of the sale, the director now owns 12,097 shares in the company, valued at $1,176,917.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on Belden from $119.00 to $123.00 and gave the company a “buy” rating in a report on Friday, July 5th. Loop Capital boosted their target price on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Belden in a report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and an average target price of $108.80.

Belden 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.