GSA Capital Partners LLP Makes New $687,000 Investment in Belden Inc. (NYSE:BDC)

GSA Capital Partners LLP purchased a new position in shares of Belden Inc. (NYSE:BDC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,862 shares of the industrial products company's stock, valued at approximately $687,000.

Several other large investors have also recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Belden during the third quarter worth approximately $608,000. Atria Investments Inc raised its stake in shares of Belden by 9.5% during the third quarter. Atria Investments Inc now owns 6,340 shares of the industrial products company's stock worth $743,000 after acquiring an additional 552 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Belden by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company's stock worth $406,000 after acquiring an additional 148 shares in the last quarter. Foster & Motley Inc. raised its stake in shares of Belden by 25.3% during the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company's stock worth $4,530,000 after acquiring an additional 7,819 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Belden by 126.0% during the third quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company's stock worth $3,924,000 after acquiring an additional 18,678 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the transaction, the chief accounting officer now owns 9,643 shares of the company's stock, valued at $1,132,956.07. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.59% of the company's stock.

Belden Trading Down 0.2 %

NYSE:BDC traded down $0.20 during trading hours on Monday, hitting $118.41. The company had a trading volume of 206,756 shares, compared to its average volume of 271,277. The company has a market capitalization of $4.78 billion, a PE ratio of 27.54 and a beta of 1.07. The stock has a 50-day moving average price of $116.26 and a 200 day moving average price of $103.23. Belden Inc. has a 52 week low of $65.52 and a 52 week high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.09. The business had revenue of $654.90 million for the quarter, compared to analysts' expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. On average, equities research analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, September 12th. Belden's dividend payout ratio (DPR) is presently 4.65%.

Analysts Set New Price Targets

BDC has been the topic of several recent analyst reports. Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 target price on the stock. Benchmark raised their target price on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Truist Financial raised their target price on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $122.75.

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.