Bank of New York Mellon Corp grew its stake in Belden Inc. (NYSE:BDC – Get Rating) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,940 shares of the industrial products company’s stock after buying an additional 28,524 shares during the period. Bank of New York Mellon Corp owned approximately 1.61% of Belden worth $41,411,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AlphaCrest Capital Management LLC grew its stake in Belden by 181.9% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 14,679 shares of the industrial products company’s stock worth $881,000 after buying an additional 9,471 shares in the last quarter. Macquarie Group Ltd. grew its stake in Belden by 22,332.6% in the 3rd quarter. Macquarie Group Ltd. now owns 127,417 shares of the industrial products company’s stock worth $7,682,000 after buying an additional 126,849 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Belden by 96.5% in the 3rd quarter. Royal Bank of Canada now owns 1,352 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 664 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of Belden in the 3rd quarter valued at $295,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Belden in the 3rd quarter valued at $281,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on BDC. The Goldman Sachs Group upped their price objective on shares of Belden from $76.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Loop Capital upped their price objective 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. Jefferies Financial Group began coverage on shares of Belden in a research note on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 price objective for the company. Truist Financial upped their price objective on shares of Belden from $93.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Finally, Benchmark increased their price target on shares of Belden from $88.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.00.
Belden Trading Down 2.1 %
Belden (NYSE:BDC – Get Rating) last posted its earnings results on Wednesday, February 8th. The industrial products company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Belden had a net margin of 9.77% and a return on equity of 26.70%. The firm had revenue of $659.07 million during the quarter, compared to analysts’ expectations of $644.17 million. During the same period last year, the company posted $1.32 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Belden Inc. will post 6.84 EPS for the current year.
Belden Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Tuesday, March 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Belden’s dividend payout ratio is 3.48%.
Insider Activity at Belden
In other Belden news, EVP Anshuman Mehrotra sold 4,360 shares of the firm’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 completion of the sale, the executive vice president now directly owns 12,682 shares in the company, valued at approximately $1,103,207.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.
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.
- Get a free copy of the StockNews.com research report on Belden (BDC)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc. (NYSE:BDC – Get Rating).
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.