Belden Inc. (NYSE:BDC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Belden Inc. (NYSE:BDC) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,595 shares of the industrial products company’s stock after acquiring an additional 3,669 shares during the quarter. Intech Investment Management LLC’s holdings in Belden were worth $1,827,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. F M Investments LLC purchased a new position in shares of Belden during the 2nd quarter valued at approximately $12,659,000. Public Employees Retirement Association of Colorado boosted its stake in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after acquiring an additional 98,503 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Belden during the 3rd quarter worth $82,320,000. Renaissance Technologies LLC increased its position in shares of Belden by 15.8% in the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after purchasing an additional 42,600 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Belden by 126.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company’s stock valued at $3,924,000 after purchasing an additional 18,678 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BDC shares. Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial boosted their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has an average rating of “Buy” and a consensus target price of $122.75.

Belden Trading Up 2.4 %

Shares of NYSE BDC opened at $123.52 on Monday. Belden Inc. has a 12-month low of $65.52 and a 12-month high of $131.82. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock’s 50 day simple moving average is $117.84 and its 200 day simple moving average is $104.10.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. Equities research analysts expect that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. Belden’s dividend payout ratio is presently 4.65%.

Insider Buying and Selling at Belden

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 value of $386,460.00. Following the completion of the sale, the chief accounting officer now owns 6,643 shares in the company, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.59% of the stock is owned by corporate insiders.

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.