BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases Shares of 8,400 Belden Inc. (NYSE:BDC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Belden Inc. (NYSE:BDC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,400 shares of the industrial products company’s stock, valued at approximately $788,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BDC. Innealta Capital LLC bought a new stake in shares of Belden during the 2nd quarter worth about $95,000. F M Investments LLC acquired a new position in shares of Belden in the second quarter valued at approximately $12,659,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Belden by 3.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 269 shares during the period. Retirement Systems of Alabama lifted its holdings in Belden by 2.1% during the 2nd quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company’s stock worth $23,410,000 after purchasing an additional 5,209 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Belden by 3.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock valued at $2,816,000 after purchasing an additional 980 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BDC shares. Loop Capital lifted their target price on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Benchmark increased their target price on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Finally, Truist Financial increased their price target on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

Insider Transactions at Belden

In related news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the sale, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Belden news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total transaction of $156,345.03. Following the transaction, the director now owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Insiders sold a total of 12,744 shares of company stock valued at $1,251,802 over the last ninety days. 1.59% of the stock is currently owned by insiders.

Belden Stock Up 0.2 %

Shares of Belden stock opened at $107.28 on Tuesday. The stock’s 50-day moving average is $96.96 and its 200 day moving average is $92.28. Belden Inc. has a one year low of $60.54 and a one year high of $108.64. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 20.99 and a beta of 1.06. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the company posted $1.91 earnings per share. Equities research analysts anticipate that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio is currently 3.91%.

About Belden

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.