Assenagon Asset Management S.A. Boosts Stake in Belden Inc. (NYSE:BDC)

Assenagon Asset Management S.A. increased its position in Belden Inc. (NYSE:BDC) by 118.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 40,911 shares of the industrial products company’s stock after purchasing an additional 22,211 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Belden worth $4,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. lifted its holdings in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares during the last quarter. GAMMA Investing LLC raised its stake in Belden by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 115 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Belden by 5.4% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 116 shares during the last quarter. Arizona State Retirement System raised its stake in Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock valued at $1,334,000 after acquiring an additional 129 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Belden by 4.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,802 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 130 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BDC. Benchmark reaffirmed a “buy” rating and set a $120.00 price objective on shares of Belden in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price objective on Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus price target of $126.20.

Belden Stock Performance

Shares of BDC stock opened at $107.39 on Monday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 22.33 and a beta of 1.23. The stock has a 50 day simple moving average of $104.25 and a 200-day simple moving average of $109.20. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. On average, equities analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, June 12th. Belden’s dividend payout ratio (DPR) is 3.86%.

Insider Buying and Selling

In related news, SVP Leah Tate sold 231 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now owns 30,170 shares in the company, valued at $3,428,518.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.48% of the company’s stock.

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.