Citigroup Inc. Has $3.80 Million Stock Holdings in Belden Inc. (NYSE:BDC)

Citigroup Inc. increased its position in shares of Belden Inc. (NYSE:BDC) by 157.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,453 shares of the industrial products company’s stock after purchasing an additional 19,849 shares during the period. Citigroup Inc.’s holdings in Belden were worth $3,801,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BDC. Matrix Trust Co acquired a new stake in shares of Belden during the 3rd quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Belden in the second quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in 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 in the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden in the third quarter valued at approximately $33,000. Finally, First Horizon Advisors Inc. boosted its position in Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Trading Down 1.0 %

BDC opened at $122.73 on Wednesday. Belden Inc. has a 1-year low of $67.46 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 company has a market cap of $4.95 billion, a P/E ratio of 28.54 and a beta of 1.08. The company has a fifty day moving average price of $119.57 and a two-hundred day moving average price of $105.38.

Belden (NYSE:BDC) last posted 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. The firm had revenue of $654.90 million during 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 business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. Analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend yield of 0.16%. The ex-dividend date is Thursday, December 12th. Belden’s dividend payout ratio is currently 4.65%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Benchmark raised their price target on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their target price 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, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.75.

Insider Buying and Selling

In related news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.59% of the stock is owned by corporate insiders.

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.