Tower Research Capital LLC TRC raised its stake in shares of Belden Inc. (NYSE:BDC – Get Rating) by 31.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,909 shares of the industrial products company’s stock after acquiring an additional 933 shares during the period. Tower Research Capital LLC TRC’s holdings in Belden were worth $235,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd lifted its stake in Belden by 88.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 241 shares during the period. USA Financial Portformulas Corp bought a new position in shares of Belden in the 3rd quarter worth approximately $32,000. Pinebridge Investments L.P. lifted its stake in shares of Belden by 483.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 483 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Belden by 87.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,105 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 515 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of Belden by 2,935.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,086 shares during the period. Institutional investors own 99.88% of the company’s stock.
Insider Buying and Selling at Belden
In other Belden news, EVP Anshuman Mehrotra sold 4,360 shares of the stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $86.99, for a total transaction of $379,276.40. Following the completion of the sale, the executive vice president now directly owns 12,682 shares of the company’s stock, valued at approximately $1,103,207.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.06% of the company’s stock.
Belden Price Performance
Belden (NYSE:BDC – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. Belden had a net margin of 9.77% and a return on equity of 26.70%. The business had revenue of $659.07 million during the quarter, compared to analyst estimates of $644.17 million. During the same period last year, the firm posted $1.32 EPS. The company’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that Belden Inc. will post 6.84 earnings per share for the current year.
Belden Announces Dividend
The business 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 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Monday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.48%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Belden in a research note on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 price objective on the stock. Benchmark increased their price objective on shares of Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Truist Financial increased their price objective on shares of Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. The Goldman Sachs Group raised their target price on shares of Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Finally, Loop Capital raised their target price on shares of Belden from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.00.
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.
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