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Foundry Partners LLC Invests $11.81 Million in Belden Inc. (NYSE:BDC)

Belden logo with Industrial Products background

Foundry Partners LLC purchased a new stake in Belden Inc. (NYSE:BDC - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,862 shares of the industrial products company's stock, valued at approximately $11,814,000. Foundry Partners LLC owned approximately 0.25% of Belden as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. F M Investments LLC acquired a new position in shares of Belden in the 2nd quarter worth approximately $12,659,000. Public Employees Retirement Association of Colorado lifted its holdings in Belden by 1,724.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock valued at $9,651,000 after buying an additional 98,503 shares during the period. International Assets Investment Management LLC acquired a new stake in Belden during the 3rd quarter worth about $82,320,000. Renaissance Technologies LLC raised its position in shares of Belden by 15.8% in the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock worth $29,365,000 after acquiring an additional 42,600 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Belden by 126.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company's stock valued at $3,924,000 after purchasing an additional 18,678 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Stock Performance

NYSE BDC opened at $118.67 on Thursday. The company has a market capitalization of $4.79 billion, a PE ratio of 27.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. Belden Inc. has a 52-week low of $65.52 and a 52-week high of $131.82. The company has a 50-day simple moving average of $117.04 and a 200 day simple moving average of $103.55.

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 (EPS) for the quarter, topping 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 company had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. During the same quarter last year, the business posted $1.78 EPS. Belden's quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Insider Activity

In other news, CAO Doug Zink sold 1,324 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,643 shares of the company's stock, valued at $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BDC shares. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Benchmark upped their price target on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $122.75.

Read Our Latest Analysis on Belden

Belden Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Belden (NYSE:BDC)

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