VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Belden Inc (NYSE:BDC – Free Report) by 168.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,400 shares of the industrial products company’s stock after purchasing an additional 8,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Belden were worth $1,446,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of Belden by 39.8% in the 3rd quarter. Signaturefd LLC now owns 587 shares of the industrial products company’s stock valued at $63,000 after buying an additional 167 shares in the last quarter. Marion Wealth Management lifted its holdings in shares of Belden by 80.0% during the 3rd quarter. Marion Wealth Management now owns 4,500 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 2,000 shares during the period. Michael J. Porro & Co. Financial Advisors Inc. lifted its holdings in shares of Belden by 17.1% during the 3rd quarter. Michael J. Porro & Co. Financial Advisors Inc. now owns 6,088 shares of the industrial products company’s stock worth $657,000 after acquiring an additional 888 shares during the period. GAMMA Investing LLC boosted its position in shares of Belden by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 120 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Belden by 103.1% during the 2nd quarter. Tidal Investments LLC now owns 5,506 shares of the industrial products company’s stock worth $660,000 after acquiring an additional 2,795 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Belden Stock Performance
Shares of Belden stock opened at $105.22 on Thursday. Belden Inc has a fifty-two week low of $96.06 and a fifty-two week high of $159.99. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.82 and a quick ratio of 1.24. The firm has a market capitalization of $4.11 billion, a P/E ratio of 23.64 and a beta of 1.16. The company’s 50 day moving average price is $110.70 and its two-hundred day moving average price is $118.00.
Belden (NYSE:BDC – Get Free Report) last posted its earnings results on Thursday, October 29th. The industrial products company reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The firm had revenue of $965.95 million for the quarter, compared to analysts’ expectations of $961.91 million. Belden had a net margin of 5.62% and a return on equity of 25.06%. The company’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 earnings per share. On average, equities analysts forecast that Belden Inc will post 8.66 earnings per share for the current fiscal year.
Belden Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. Belden’s payout ratio is currently 4.49%.
Analyst Ratings Changes
A number of research analysts recently issued reports on BDC shares. Weiss Ratings cut shares of Belden from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 30th. Truist Financial restated a “buy” rating and set a $145.00 target price (down from $155.00) on shares of Belden in a research note on Friday, July 31st. Zacks Research downgraded Belden from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. DA Davidson lifted their price target on Belden from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Needham & Company LLC began coverage on Belden in a report on Wednesday, September 23rd. They set a “buy” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Belden currently has an average rating of “Moderate Buy” and an average price target of $156.00.
Read Our Latest Stock Analysis on Belden
About Belden
Belden Inc (NYSE: BDC) is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.
Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden’s offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.
Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.
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