Belden Inc. (NYSE:BDC) Holdings Boosted by KBC Group NV

KBC Group NV grew its holdings in Belden Inc. (NYSE:BDC) by 27.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,261 shares of the industrial products company’s stock after purchasing an additional 274 shares during the period. KBC Group NV’s holdings in Belden were worth $148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its position in shares of Belden by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,564 shares of the industrial products company’s stock worth $1,090,000 after purchasing an additional 420 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Belden by 11.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,038 shares of the industrial products company’s stock valued at $3,984,000 after buying an additional 4,319 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Belden during the 1st quarter valued at $256,000. Price T Rowe Associates Inc. MD increased its stake in shares of Belden by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 133,469 shares of the industrial products company’s stock worth $12,361,000 after acquiring an additional 930 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Belden by 1,724.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after purchasing an additional 98,503 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

NYSE:BDC opened at $120.70 on Friday. The firm has a market capitalization of $4.87 billion, a PE ratio of 28.07 and a beta of 1.07. Belden Inc. has a 1 year low of $65.52 and a 1 year high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $117.44 and its 200 day simple moving average is $103.67.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS 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 analyst estimates of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. 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 posted $1.78 earnings per share. On average, sell-side analysts anticipate that Belden Inc. will post 6.12 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BDC shares. Truist Financial boosted their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark raised their price target on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $122.75.

Insider Buying and Selling

In other news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is currently owned by 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.