Bank of America Corp DE Purchases 157,335 Shares of Belden Inc. (NYSE:BDC)

Bank of America Corp DE boosted its holdings in shares of Belden Inc. (NYSE:BDC) by 234.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,363 shares of the industrial products company’s stock after buying an additional 157,335 shares during the period. Bank of America Corp DE owned approximately 0.56% of Belden worth $25,266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Belden during the fourth quarter valued at about $26,000. Quarry LP increased its position in shares of Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 265 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Belden by 49.9% during the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 211 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after buying an additional 199 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after buying an additional 105 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Belden

In other news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This represents a 11.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the transaction, the senior vice president now owns 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,259 shares of company stock valued at $2,340,577. 1.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BDC has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Loop Capital reduced their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Benchmark reissued a “buy” rating and issued a $120.00 price target on shares of Belden in a research note on Monday, May 5th. Finally, StockNews.com lowered shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $126.20.

Belden Stock Up 0.5%

Shares of NYSE BDC opened at $112.47 on Monday. The firm’s fifty day moving average is $100.80 and its 200 day moving average is $111.01. Belden Inc. has a 52 week low of $83.18 and a 52 week high of $131.82. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 23.38 and a beta of 1.24.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12. The firm had revenue of $624.86 million for the quarter, compared to analysts’ expectations of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts expect that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.86%.

Belden Company 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.