Foster & Motley Inc. Purchases 7,819 Shares of Belden Inc. (NYSE:BDC)

Foster & Motley Inc. lifted its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,675 shares of the industrial products company's stock after purchasing an additional 7,819 shares during the quarter. Foster & Motley Inc. owned 0.09% of Belden worth $4,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. US Bancorp DE raised its holdings in Belden by 7.4% in the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company's stock valued at $327,000 after buying an additional 193 shares during the last quarter. Matrix Trust Co acquired a new stake in Belden during the 3rd quarter worth approximately $25,000. State of Alaska Department of Revenue grew its holdings in Belden by 0.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company's stock worth $4,068,000 after acquiring an additional 215 shares during the last quarter. Finally, Atlas Capital Advisors LLC raised its stake in shares of Belden by 16.3% during the second quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company's stock valued at $165,000 after acquiring an additional 246 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BDC. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Vertical Research assumed coverage on Belden in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price target on the stock. Finally, Truist Financial raised their price objective on Belden from $124.00 to $136.00 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 data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $122.75.

Insider Activity at Belden

In other Belden news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction 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 sale, the chief accounting officer now directly owns 9,643 shares of the company's stock, valued at approximately $1,132,956.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company's stock, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Doug Zink sold 1,324 shares of the business'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 of the company's stock, valued at $1,132,956.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,142 shares of company stock worth $936,322 in the last quarter. Company insiders own 1.59% of the company's stock.

Belden Trading Up 10.9 %

BDC stock traded up $12.93 during midday trading on Wednesday, hitting $131.43. The stock had a trading volume of 480,618 shares, compared to its average volume of 272,859. 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 business has a fifty day moving average price of $112.63 and a two-hundred day moving average price of $100.69. Belden Inc. has a 1-year low of $63.00 and a 1-year high of $131.82. The firm has a market cap of $5.30 billion, a P/E ratio of 27.55 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 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 return on equity of 20.55% and a net margin of 7.61%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. On average, sell-side analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.15%. Belden's payout ratio is presently 4.65%.

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.