Citigroup Inc. increased its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 157.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,453 shares of the industrial products company's stock after acquiring an additional 19,849 shares during the period. Citigroup Inc. owned about 0.08% of Belden worth $3,801,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in shares of Belden in the 3rd quarter valued at $608,000. GSA Capital Partners LLP acquired a new stake in shares of Belden in the 3rd quarter valued at about $687,000. Foster & Motley Inc. grew its holdings in shares of Belden by 25.3% in the 3rd 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 in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Belden in the 2nd quarter valued at about $503,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Belden by 3.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company's stock worth $2,816,000 after purchasing an additional 980 shares during the period. 98.75% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Truist Financial boosted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden presently has an average rating of "Buy" and an average price target of $122.75.
Read Our Latest Stock Report on Belden
Belden Trading Up 0.3 %
BDC traded up $0.32 during trading on Wednesday, reaching $123.03. 295,679 shares of the stock traded hands, compared to its average volume of 268,138. 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 capitalization of $4.96 billion, a PE ratio of 28.58 and a beta of 1.08. The stock's 50-day moving average is $119.70 and its 200 day moving average is $105.58. Belden Inc. has a 12 month low of $68.77 and a 12 month high of $131.82.
Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data 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. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm 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 business earned $1.78 earnings per share. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current year.
Belden Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.05 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.16%. Belden's dividend payout ratio (DPR) is 4.65%.
Insider Activity
In other Belden news, CAO Doug Zink sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.59% of the company's stock.
About Belden
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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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