Barclays PLC boosted its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 189.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,132 shares of the industrial products company's stock after acquiring an additional 52,439 shares during the quarter. Barclays PLC owned 0.20% of Belden worth $9,386,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in BDC. Los Angeles Capital Management LLC acquired a new position in shares of Belden during the 3rd quarter valued at $608,000. GSA Capital Partners LLP purchased a new stake in Belden in the third quarter valued at approximately $687,000. Citigroup Inc. raised its stake in Belden by 157.5% in the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company's stock valued at $3,801,000 after purchasing an additional 19,849 shares in the last quarter. Foster & Motley Inc. grew its position in Belden by 25.3% during the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company's stock valued at $4,530,000 after acquiring an additional 7,819 shares during the last quarter. Finally, AdvisorShares Investments LLC bought a new position in shares of Belden in the second quarter worth approximately $503,000. 98.75% of the stock is owned by institutional investors.
Belden Price Performance
BDC opened at $118.83 on Wednesday. The business's fifty day simple moving average is $120.77 and its 200-day simple moving average is $107.41. Belden Inc. has a 12-month low of $71.20 and a 12-month high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 27.63 and a beta of 1.08.
Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter last year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current fiscal year.
Belden Dividend Announcement
The company also recently declared 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 dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, December 12th. Belden's payout ratio is 4.65%.
Analyst Ratings Changes
Several brokerages have commented on BDC. Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Truist Financial boosted their price target on Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $122.75.
Check Out Our Latest Research Report on BDC
Insider Activity
In other Belden news, CAO Doug Zink sold 1,324 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the sale, the chief accounting officer now directly owns 9,643 shares of the company's stock, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.59% of the company's stock.
About Belden
(
Free Report)
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.
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