LPL Financial LLC lifted its stake in shares of Belden Inc. (NYSE:BDC – Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,310 shares of the industrial products company’s stock after acquiring an additional 491 shares during the quarter. LPL Financial LLC’s holdings in Belden were worth $891,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Belden by 8.2% during the 1st quarter. Bank of Montreal Can now owns 15,131 shares of the industrial products company’s stock valued at $867,000 after purchasing an additional 1,142 shares during the period. MetLife Investment Management LLC raised its holdings in Belden by 40.1% during the first quarter. MetLife Investment Management LLC now owns 52,012 shares of the industrial products company’s stock valued at $2,881,000 after acquiring an additional 14,895 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Belden in the first quarter valued at about $961,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Belden by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,455 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 1,569 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in shares of Belden during the first quarter worth about $762,000. 99.16% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Fox Advisors cut Belden from an “overweight” rating to an “equal weight” rating in a report on Friday, October 13th. The Goldman Sachs Group cut their target price on shares of Belden from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. UBS Group assumed coverage on Belden in a research report on Wednesday, September 27th. They set a “buy” rating and a $115.00 price objective for the company. Finally, Loop Capital reduced their target price on Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.
Belden Stock Performance
Shares of NYSE:BDC opened at $68.92 on Friday. The firm has a fifty day simple moving average of $81.76 and a two-hundred day simple moving average of $87.72. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a quick ratio of 1.95, a current ratio of 2.55 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.87 billion, a P/E ratio of 11.17 and a beta of 1.25.
Belden Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Wednesday, September 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.29%. Belden’s dividend payout ratio is currently 3.24%.
Insiders Place Their Bets
In related news, SVP Leah Tate acquired 1,550 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $64.53 per share, with a total value of $100,021.50. Following the purchase, the senior vice president now directly owns 3,360 shares of the company’s stock, valued at $216,820.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.42% of the stock is currently owned by insiders.
Belden Company Profile
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 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, and home and building automation.
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