Los Angeles Capital Management LLC Buys New Position in Belden Inc. (NYSE:BDC)

Los Angeles Capital Management LLC purchased a new stake in Belden Inc. (NYSE:BDC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,193 shares of the industrial products company’s stock, valued at approximately $608,000.

Other hedge funds have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of Belden during the 3rd quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in Belden during the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 117 shares during the period. Innealta Capital LLC bought a new position in shares of Belden in the 2nd quarter worth approximately $95,000. Finally, Covestor Ltd lifted its stake in shares of Belden by 33.9% in the 1st quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 295 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BDC. Vertical Research assumed coverage on Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Benchmark increased their price target on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Truist Financial upped their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden has a consensus rating of “Buy” and an average price target of $122.75.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.59% of the company’s stock.

Belden Price Performance

BDC opened at $118.61 on Friday. The firm has a market cap of $4.78 billion, a PE ratio of 27.58 and a beta of 1.07. The stock has a 50-day moving average price of $115.88 and a 200-day moving average price of $102.87. Belden Inc. has a 1 year low of $65.52 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

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

Belden Dividend Announcement

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

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.