GSA Capital Partners LLP Makes New $687,000 Investment in Belden Inc. (NYSE:BDC)

GSA Capital Partners LLP bought a new stake in Belden Inc. (NYSE:BDC) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 5,862 shares of the industrial products company’s stock, valued at approximately $687,000.

Several other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of Belden by 198.4% in the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after acquiring an additional 8,169 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after acquiring an additional 98,503 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Belden in the 3rd quarter valued at about $608,000. Foster & Motley Inc. raised its stake in Belden by 25.3% during the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after buying an additional 7,819 shares during the period. Finally, AdvisorShares Investments LLC acquired a new stake in Belden in the second quarter valued at approximately $503,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.59% of the company’s stock.

Belden Price Performance

Belden stock opened at $118.61 on Monday. Belden Inc. has a 52 week low of $65.52 and a 52 week high of $131.82. The company’s 50 day moving average price is $115.88 and its two-hundred day moving average price is $103.03. The stock has a market cap of $4.78 billion, a P/E ratio of 27.58 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio is 4.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BDC shares. Benchmark increased their target price on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden has an average rating of “Buy” and an average target price of $122.75.

Belden 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.