Ergoteles LLC Takes $364,000 Position in Belden Inc. (NYSE:BDC)

Ergoteles LLC acquired a new stake in Belden Inc. (NYSE:BDC – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,059 shares of the industrial products company’s stock, valued at approximately $364,000.

Other hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC increased its stake in Belden by 2.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 475,499 shares of the industrial products company’s stock valued at $28,539,000 after purchasing an additional 10,070 shares in the last quarter. Oberweis Asset Management Inc. increased its stake in Belden by 36.0% during the 3rd quarter. Oberweis Asset Management Inc. now owns 75,165 shares of the industrial products company’s stock valued at $4,511,000 after purchasing an additional 19,905 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Belden by 164.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 569 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 354 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Belden by 174.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,723 shares of the industrial products company’s stock valued at $704,000 after purchasing an additional 7,449 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Belden by 126.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 30,083 shares of the industrial products company’s stock valued at $1,806,000 after purchasing an additional 16,812 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BDC. Jefferies Financial Group began coverage on shares of Belden in a research note on Tuesday, November 22nd. They set a “hold” rating and a $86.00 price target for the company. Loop Capital boosted their price target on shares of Belden from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Benchmark lifted their price objective on shares of Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. Truist Financial lifted their price objective on shares of Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Belden currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Insider Buying and Selling at Belden

In other Belden news, EVP Anshuman Mehrotra sold 4,360 shares of the company’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $86.99, for a total transaction of $379,276.40. Following the sale, the executive vice president now directly owns 12,682 shares of the company’s stock, valued at $1,103,207.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

Belden Price Performance

Shares of NYSE:BDC opened at $86.42 on Friday. The company’s 50-day moving average is $81.34 and its 200 day moving average is $73.89. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.87 and a current ratio of 2.40. The company has a market capitalization of $3.71 billion, a P/E ratio of 15.03 and a beta of 1.32. Belden Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $92.33.

Belden (NYSE:BDC – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The company had revenue of $659.07 million for the quarter, compared to the consensus estimate of $644.17 million. Belden had a net margin of 9.77% and a return on equity of 26.70%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. On average, equities research analysts forecast that Belden Inc. will post 6.84 earnings per share for the current year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Tuesday, March 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Monday, March 13th. Belden’s dividend payout ratio (DPR) is presently 3.48%.

About Belden

(Get Rating)

Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.