Cibc World Markets Corp Acquires New Stake in Belden Inc. (NYSE:BDC)

Cibc World Markets Corp bought a new position in shares of Belden Inc. (NYSE:BDC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,793 shares of the industrial products company's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BDC. First Horizon Advisors Inc. boosted its holdings in Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock worth $50,000 after buying an additional 209 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Belden by 31.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock worth $94,000 after acquiring an additional 199 shares during the period. Principal Securities Inc. grew its position in shares of Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Belden by 72.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company's stock valued at $167,000 after purchasing an additional 599 shares during the period. Finally, Matrix Trust Co boosted its stake in Belden by 624.8% in the 4th quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company's stock worth $171,000 after purchasing an additional 1,312 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Loop Capital lowered their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. StockNews.com upgraded shares of Belden from a "buy" rating to a "strong-buy" rating in a research report on Monday, February 10th. Finally, Benchmark reiterated a "buy" rating and issued a $130.00 price objective on shares of Belden in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $130.25.

Belden Price Performance

BDC stock traded down $0.77 during mid-day trading on Thursday, hitting $104.39. 242,832 shares of the stock were exchanged, compared to its average volume of 257,065. The business has a fifty day moving average price of $110.86 and a 200 day moving average price of $114.83. Belden Inc. has a 12 month low of $80.90 and a 12 month high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 21.70 and a beta of 1.02.

Belden (NYSE:BDC - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, sell-side analysts anticipate that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Thursday, March 13th. Belden's dividend payout ratio is currently 4.16%.

Insider Buying and Selling

In other news, Director Jonathan C. Klein sold 2,129 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total value of $234,190.00. Following the sale, the director now directly owns 9,968 shares of the company's stock, valued at $1,096,480. This represents a 17.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory James Mccray sold 4,200 shares of Belden stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now directly owns 4,199 shares of the company's stock, valued at approximately $441,776.79. This trade represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock valued at $2,589,774 over the last three months. 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.