Hennion & Walsh Asset Management Inc. Raises Holdings in Belden Inc. (NYSE:BDC)

Hennion & Walsh Asset Management Inc. grew its stake in Belden Inc. (NYSE:BDC - Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,152 shares of the industrial products company's stock after purchasing an additional 2,757 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.08% of Belden worth $3,621,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Matrix Trust Co bought a new position in shares of Belden in the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its position in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Belden during the third quarter valued at approximately $33,000. First Horizon Advisors Inc. increased its position in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 209 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company's stock valued at $148,000 after acquiring an additional 274 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. StockNews.com upgraded Belden from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Finally, Truist Financial lifted their price target on Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Belden has a consensus rating of "Buy" and an average target price of $122.75.

Insiders Place Their Bets

In related news, CAO Doug Zink sold 3,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.59% of the company's stock.

Belden Price Performance

NYSE:BDC traded down $1.45 during trading hours on Friday, hitting $117.35. 270,384 shares of the company's stock traded hands, compared to its average volume of 227,589. The firm has a market cap of $4.73 billion, a P/E ratio of 27.29 and a beta of 1.09. Belden Inc. has a 52 week low of $72.09 and a 52 week high of $131.82. The business's fifty day simple moving average is $118.78 and its two-hundred day simple moving average is $110.26. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99.

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 return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. On average, 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 was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden's dividend payout ratio (DPR) is currently 4.65%.

Belden Company 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.