Geode Capital Management LLC Increases Holdings in Belden Inc. (NYSE:BDC)

Geode Capital Management LLC boosted its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 960,974 shares of the industrial products company's stock after buying an additional 5,727 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Belden worth $112,580,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in Belden in the third quarter worth $25,000. GAMMA Investing LLC increased its holdings in Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock worth $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Belden in the 3rd quarter valued at about $33,000. First Horizon Advisors Inc. lifted its holdings in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Belden during the second quarter worth about $95,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

Wall Street Analyst Weigh In

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

Belden Price Performance

Shares of BDC traded down $5.06 during midday trading on Wednesday, hitting $113.79. 307,134 shares of the company traded hands, compared to its average volume of 267,014. The stock has a 50-day moving average of $120.68 and a 200-day moving average of $107.45. 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 Inc. has a one year low of $71.20 and a one year high of $131.82. The firm has a market cap of $4.59 billion, a P/E ratio of 26.46 and a beta of 1.08.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the prior year, the firm posted $1.78 EPS. Belden's revenue was up 4.5% on a year-over-year basis. As a group, sell-side 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 will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, December 12th. Belden's payout ratio is 4.65%.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 1,324 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.59% of the company's stock.

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.