Belden Inc $BDC Shares Purchased by Renaissance Group LLC

Renaissance Group LLC boosted its holdings in shares of Belden Inc (NYSE:BDC) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,749 shares of the industrial products company’s stock after acquiring an additional 5,216 shares during the quarter. Renaissance Group LLC owned about 0.17% of Belden worth $7,908,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BDC. Verdence Capital Advisors LLC increased its position in shares of Belden by 1.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,223 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 78 shares during the last quarter. Arizona State Retirement System boosted its stake in Belden by 0.7% during the third quarter. Arizona State Retirement System now owns 11,688 shares of the industrial products company’s stock worth $1,406,000 after buying an additional 86 shares during the period. Blue Trust Inc. boosted its stake in Belden by 6.0% during the third quarter. Blue Trust Inc. now owns 2,038 shares of the industrial products company’s stock worth $245,000 after buying an additional 116 shares during the period. Captrust Financial Advisors increased its position in shares of Belden by 3.8% during the second quarter. Captrust Financial Advisors now owns 3,904 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 142 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of Belden by 7.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,193 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st. Truist Financial raised their price target on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Wall Street Zen upgraded Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Belden Stock Up 6.2%

Belden stock opened at $139.90 on Friday. The firm has a market capitalization of $5.50 billion, a P/E ratio of 24.85 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. Belden Inc has a twelve month low of $83.18 and a twelve month high of $140.43. The stock’s fifty day simple moving average is $119.38 and its 200-day simple moving average is $120.73.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 11th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, December 11th. Belden’s dividend payout ratio (DPR) is presently 3.55%.

Insider Buying and Selling

In other Belden news, Director Jonathan C. Klein sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $124.19, for a total transaction of $372,570.00. Following the completion of the transaction, the director owned 8,353 shares in the company, valued at $1,037,359.07. The trade was a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Doug Zink sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief accounting officer directly owned 4,642 shares in the company, valued at approximately $580,250. This represents a 46.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,045 shares of company stock valued at $2,010,690. Corporate insiders own 1.48% of the company’s stock.

About Belden

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.