Susquehanna Fundamental Investments LLC boosted its position in Belden Inc (NYSE:BDC – Free Report) by 487.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,027 shares of the industrial products company’s stock after purchasing an additional 70,547 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.22% of Belden worth $10,196,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Millennium Management LLC raised its stake in Belden by 9.6% in the first quarter. Millennium Management LLC now owns 78,865 shares of the industrial products company’s stock valued at $7,906,000 after buying an additional 6,894 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Belden during the first quarter worth about $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Belden by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,807 shares of the industrial products company’s stock worth $13,214,000 after acquiring an additional 10,077 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Belden by 18.3% during the first quarter. Jane Street Group LLC now owns 58,028 shares of the industrial products company’s stock valued at $5,817,000 after acquiring an additional 8,961 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Belden by 273.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,984 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 2,918 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.
Belden Stock Performance
Shares of NYSE BDC opened at $115.30 on Monday. The company has a 50 day simple moving average of $117.11 and a two-hundred day simple moving average of $120.17. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 18.75 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.49 and a debt-to-equity ratio of 0.89. Belden Inc has a 12 month low of $98.00 and a 12 month high of $159.99.
Belden Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Belden’s dividend payout ratio (DPR) is currently 3.25%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on BDC shares. Citigroup began coverage on shares of Belden in a research report on Friday, June 26th. They set a “buy” rating and a $150.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $145.00 price objective (down from $155.00) on shares of Belden in a report on Friday, July 31st. DA Davidson upped their target price on Belden from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research upgraded Belden from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $160.00.
Read Our Latest Report on Belden
Belden Profile
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.
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