First Horizon Advisors Inc. Has $50,000 Holdings in Belden Inc. (NYSE:BDC)

First Horizon Advisors Inc. lifted its position in shares of Belden Inc. (NYSE:BDC) by 97.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 423 shares of the industrial products company’s stock after acquiring an additional 209 shares during the quarter. First Horizon Advisors Inc.’s holdings in Belden were worth $50,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Tidal Investments LLC increased its stake in shares of Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 8,169 shares during the period. GSA Capital Partners LLP bought a new stake in Belden in the third quarter valued at approximately $687,000. Public Employees Retirement Association of Colorado increased its position 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 purchasing an additional 98,503 shares during the period. Los Angeles Capital Management LLC bought a new position in Belden during the 3rd quarter worth approximately $608,000. Finally, Foster & Motley Inc. lifted its position in shares of Belden by 25.3% in the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after purchasing an additional 7,819 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Benchmark lifted their target price 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. Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Stock 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 quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.98 billion, a PE ratio of 28.73 and a beta of 1.07. The company’s fifty day simple moving average is $117.84 and its 200 day simple moving average is $104.10.

Belden (NYSE:BDC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating 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 company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently declared 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. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date is Thursday, December 12th. Belden’s payout ratio is currently 4.65%.

Insiders Place Their Bets

In other Belden news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.59% 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.