Principal Securities Inc. Has $135,000 Stock Position in Belden Inc. (NYSE:BDC)

Principal Securities Inc. grew its stake in shares of Belden Inc. (NYSE:BDC) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,202 shares of the industrial products company’s stock after purchasing an additional 105 shares during the period. Principal Securities Inc.’s holdings in Belden were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after acquiring an additional 576,768 shares in the last quarter. State Street Corp lifted its position in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after buying an additional 100,145 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after buying an additional 5,727 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after purchasing an additional 68,151 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Belden by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock valued at $21,432,000 after purchasing an additional 23,936 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Transactions at Belden

In other news, CEO Ashish Chand sold 14,535 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company’s stock, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the sale, the senior vice president now owns 23,243 shares of the company’s stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,099 shares of company stock worth $1,913,702 over the last quarter. 1.59% of the stock is currently owned by insiders.

Belden Price Performance

Shares of NYSE BDC opened at $109.42 on Wednesday. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82. The stock has a market capitalization of $4.41 billion, a P/E ratio of 22.75 and a beta of 1.08. The company’s 50-day moving average is $115.11 and its 200 day moving average is $114.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, sell-side analysts expect that Belden Inc. will post 7.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BDC. Truist Financial boosted their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Loop Capital cut their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Belden in a report on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Belden has a consensus rating of “Buy” and a consensus target price of $130.25.

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.