Renaissance Technologies LLC Raises Stake in Belden Inc. (NYSE:BDC)

Renaissance Technologies LLC boosted its position in Belden Inc. (NYSE:BDC) by 15.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 313,063 shares of the industrial products company’s stock after purchasing an additional 42,600 shares during the period. Renaissance Technologies LLC’s holdings in Belden were worth $29,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in Belden by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock valued at $128,148,000 after buying an additional 30,268 shares during the last quarter. Wellington Management Group LLP boosted its position in Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after buying an additional 149,263 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Belden by 13.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock valued at $47,245,000 after buying an additional 72,775 shares during the last quarter. Southernsun Asset Management LLC boosted its position in Belden by 15.3% in the fourth quarter. Southernsun Asset Management LLC now owns 534,618 shares of the industrial products company’s stock valued at $41,299,000 after buying an additional 71,118 shares during the last quarter. Finally, Norges Bank purchased a new stake in Belden in the fourth quarter valued at approximately $35,403,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

In other news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,137 shares of company stock worth $1,095,457. 1.59% of the stock is currently owned by company insiders.

Belden Stock Up 3.2 %

Shares of NYSE:BDC opened at $110.13 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $99.31 and a two-hundred day moving average of $93.76. The stock has a market cap of $4.48 billion, a P/E ratio of 21.50 and a beta of 1.07. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $110.34.

Belden (NYSE:BDC) last issued its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.14. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 EPS. On average, research analysts expect that Belden Inc. will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio is presently 3.91%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target for the company. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Benchmark upped their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial upped their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

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.