Navellier & Associates Inc. Takes $227,000 Position in Belden Inc. (NYSE:BDC)

Navellier & Associates Inc. purchased a new stake in Belden Inc. (NYSE:BDC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,014 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other hedge funds also recently made changes to their positions in the stock. Prospera Private Wealth LLC purchased a new position in Belden during the third quarter worth about $33,000. First Horizon Advisors Inc. grew its position in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares in the last quarter. Principal Securities Inc. grew its position in Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after buying an additional 105 shares in the last quarter. KBC Group NV grew its position in Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after buying an additional 274 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in Belden by 72.3% during the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock worth $167,000 after buying an additional 599 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Leah Tate sold 2,400 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the sale, the senior vice president now owns 23,243 shares of the company’s stock, valued at approximately $2,667,599.11. The trade was a 9.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.59% of the stock is currently owned by corporate insiders.

Belden Trading Down 1.9 %

Shares of BDC stock opened at $111.41 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $115.53 and a two-hundred day moving average price of $114.52. Belden Inc. has a 12-month low of $80.73 and a 12-month high of $131.82. The firm has a market cap of $4.49 billion, a P/E ratio of 23.16 and a beta of 1.08.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. Equities analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BDC shares. Loop Capital reduced their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Truist Financial boosted their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Belden has a consensus rating of “Buy” and an average price target of $130.25.

Belden Company 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.