Investmark Advisory Group LLC acquired a new stake in Belden Inc (NYSE:BDC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,331 shares of the industrial products company’s stock, valued at approximately $639,000.
Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in Belden by 12,950.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 259 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Belden by 134.1% during the second quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Fairscale Capital LLC acquired a new position in Belden during the fourth quarter valued at approximately $51,000. Smartleaf Asset Management LLC grew its stake in Belden by 32.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 437 shares of the industrial products company’s stock worth $52,000 after buying an additional 106 shares during the period. Finally, Clearstead Advisors LLC grew its stake in Belden by 208.1% during the fourth quarter. Clearstead Advisors LLC now owns 530 shares of the industrial products company’s stock worth $62,000 after buying an additional 358 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.
Belden Trading Down 6.1%
BDC opened at $129.25 on Wednesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of 21.02 and a beta of 1.12. The firm’s 50 day moving average is $116.53 and its 200-day moving average is $120.62. Belden Inc has a 52-week low of $98.00 and a 52-week high of $159.99. The company has a quick ratio of 1.49, a current ratio of 2.14 and a debt-to-equity ratio of 0.89.
Belden Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Belden’s dividend payout ratio is presently 3.25%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on BDC shares. Citigroup initiated coverage on shares of Belden in a research note on Friday, June 26th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Research raised shares of Belden from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. DA Davidson started coverage on Belden in a report on Tuesday, June 16th. They issued a “buy” rating and a $155.00 price target for the company. Wall Street Zen raised Belden from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Fox Advisors upgraded Belden from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $156.25.
Read Our Latest Stock Analysis on BDC
About Belden
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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