Geode Capital Management LLC Has $112.58 Million Stake in Belden Inc. (NYSE:BDC)

Geode Capital Management LLC boosted its holdings in Belden Inc. (NYSE:BDC - Free Report) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 960,974 shares of the industrial products company's stock after purchasing an additional 5,727 shares during the quarter. Geode Capital Management LLC owned 2.38% of Belden worth $112,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC boosted its stake in shares of Belden by 189.4% in the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock valued at $9,386,000 after buying an additional 52,439 shares during the period. Wolverine Trading LLC raised its holdings in Belden by 135.2% in the 3rd quarter. Wolverine Trading LLC now owns 1,794 shares of the industrial products company's stock valued at $208,000 after acquiring an additional 6,894 shares in the last quarter. State Street Corp lifted its position in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after acquiring an additional 100,145 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Belden by 34.1% during the 3rd quarter. Janus Henderson Group PLC now owns 34,635 shares of the industrial products company's stock worth $4,055,000 after purchasing an additional 8,805 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Belden by 13.1% in the third quarter. HighTower Advisors LLC now owns 3,428 shares of the industrial products company's stock worth $402,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

Insider Buying and Selling

In other Belden news, CAO Doug Zink sold 1,324 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 9,643 shares in the company, valued at approximately $1,132,956.07. This represents a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BDC has been the topic of a number of analyst reports. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Benchmark increased their price target on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $122.75.

Belden Stock Performance

Belden stock opened at $118.83 on Wednesday. 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 stock has a market cap of $4.79 billion, a PE ratio of 27.63 and a beta of 1.08. Belden Inc. has a 12-month low of $71.20 and a 12-month high of $131.82. The business's 50-day moving average price is $120.77 and its two-hundred day moving average price is $107.41.

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

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden's dividend payout ratio is currently 4.65%.

Belden Company 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.