GAMMA Investing LLC Has $45,000 Position in Belden Inc (NYSE:BDC)

GAMMA Investing LLC raised its stake in Belden Inc (NYSE:BDC) by 34.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 446 shares of the industrial products company’s stock after purchasing an additional 115 shares during the period. GAMMA Investing LLC’s holdings in Belden were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BDC. Aster Capital Management DIFC Ltd bought a new stake in shares of Belden in the fourth quarter valued at about $26,000. Quarry LP boosted its position in shares of Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 265 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Belden in the fourth quarter valued at about $61,000. Raiffeisen Bank International AG bought a new stake in shares of Belden in the fourth quarter valued at about $173,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Belden by 138.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,696 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 985 shares during the period. Institutional investors own 98.75% of the company’s stock.

Belden Trading Up 1.5%

BDC opened at $123.81 on Friday. Belden Inc has a twelve month low of $83.18 and a twelve month high of $131.82. The company has a 50-day simple moving average of $111.61 and a 200 day simple moving average of $108.81. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 23.90 and a beta of 1.24.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The business had revenue of $624.86 million during the quarter, compared to analysts’ expectations of $615.81 million. During the same quarter in the prior year, the business posted $1.24 earnings per share. Belden’s revenue was up 16.6% compared to the same quarter last year. Analysts predict that Belden Inc will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, June 12th. Belden’s payout ratio is 3.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BDC. The Goldman Sachs Group reduced their target price on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wall Street Zen cut shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 21st. Finally, Benchmark boosted their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden currently has a consensus rating of “Buy” and a consensus target price of $128.20.

Insider Buying and Selling

In other Belden news, SVP Leah Tate sold 231 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the transaction, the senior vice president owned 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.