Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Belden Inc. (NYSE:BDC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Belden Inc. (NYSE:BDC) by 48.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,323 shares of the industrial products company’s stock after buying an additional 3,364 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Belden were worth $797,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Belden by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after acquiring an additional 92,544 shares during the period. FMR LLC raised its stake in shares of Belden by 1,365.5% during the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Belden by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock valued at $79,216,000 after buying an additional 111,232 shares during the period. Channing Capital Management LLC boosted its stake in shares of Belden by 7.6% in the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock valued at $68,552,000 after buying an additional 50,256 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Belden by 3.9% during the third quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company’s stock worth $33,417,000 after acquiring an additional 12,844 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BDC. Truist Financial boosted their target price on shares of Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of Belden from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Belden currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Belden Stock Up 1.2 %

BDC opened at $84.44 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 14.92 and a beta of 1.04. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The business’s fifty day moving average is $86.89 and its two-hundred day moving average is $77.96.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. During the same period in the previous year, the firm earned $1.75 EPS. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. Analysts anticipate that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Belden’s dividend payout ratio is presently 3.53%.

Insider Transactions at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares in the company, valued at approximately $1,791,835.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.59% of the company’s stock.

Belden Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications 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 to the home, and building automation.