Crossmark Global Holdings Inc. Invests $212,000 in Belden Inc. (NYSE:BDC)

Crossmark Global Holdings Inc. purchased a new position in Belden Inc. (NYSE:BDCGet Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,540 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new position in Belden during the third quarter valued at approximately $3,242,000. Newport Trust Co lifted its stake in Belden by 2.3% in the third quarter. Newport Trust Co now owns 240,060 shares of the industrial products company’s stock worth $14,408,000 after acquiring an additional 5,343 shares during the period. Ziegler Capital Management LLC purchased a new stake in Belden in the third quarter worth $7,424,000. USA Financial Portformulas Corp purchased a new stake in Belden in the third quarter worth $32,000. Finally, Granite Investment Partners LLC lifted its stake in Belden by 2.6% in the third quarter. Granite Investment Partners LLC now owns 328,724 shares of the industrial products company’s stock worth $19,730,000 after acquiring an additional 8,348 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Belden

In other news, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $79.82, for a total value of $79,820.00. Following the completion of the transaction, the director now owns 14,053 shares of the company’s stock, valued at approximately $1,121,710.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group raised their price target on Belden from $67.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, November 3rd. StockNews.com assumed coverage on Belden in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Truist Financial raised their price objective on Belden from $77.00 to $82.00 in a research report on Thursday, November 3rd. Finally, Jefferies Financial Group assumed coverage on Belden in a research report on Tuesday, November 22nd. They set a “hold” rating and a $86.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Belden Stock Performance

Shares of Belden stock opened at $79.10 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.89 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $3.39 billion, a P/E ratio of 24.57 and a beta of 1.35. The business has a fifty day simple moving average of $76.94 and a two-hundred day simple moving average of $69.73. Belden Inc. has a 12 month low of $47.89 and a 12 month high of $82.83.

Belden (NYSE:BDCGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.20. The firm had revenue of $670.49 million during the quarter, compared to analyst estimates of $634.29 million. Belden had a return on equity of 26.35% and a net margin of 5.53%. Belden’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, equities analysts forecast that Belden Inc. will post 6.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Wednesday, December 14th. Belden’s dividend payout ratio is presently 6.21%.

About Belden

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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