Belden Inc. (NYSE:BDC) Shares Acquired by US Bancorp DE

US Bancorp DE increased its position in shares of Belden Inc. (NYSE:BDC) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,794 shares of the industrial products company’s stock after purchasing an additional 193 shares during the period. US Bancorp DE’s holdings in Belden were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BDC. Tidal Investments LLC raised its holdings in shares of Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 8,169 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Belden by 8.0% during the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock worth $9,195,000 after purchasing an additional 7,340 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after purchasing an additional 98,503 shares in the last quarter. AdvisorShares Investments LLC purchased a new position in Belden during the second quarter worth about $503,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Belden by 3.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock worth $2,816,000 after purchasing an additional 980 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BDC has been the subject of several analyst reports. Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark upped their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $122.75.

Insider Activity

In other news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,880 shares of company stock valued at $1,200,633. Company insiders own 1.59% of the company’s stock.

Belden Stock Performance

NYSE:BDC opened at $123.84 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The company has a market cap of $5.00 billion, a P/E ratio of 28.80 and a beta of 1.07. Belden Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $131.82. The firm’s 50 day moving average is $114.77 and its two-hundred day moving average is $102.23.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million for the quarter, compared to the consensus estimate of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. Analysts expect that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio is presently 4.65%.

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.