Belden Inc. (NYSE:BDC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Belden Inc. (NYSE:BDC - Free Report) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,973 shares of the industrial products company's stock after buying an additional 23,936 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of Belden worth $21,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDC. FMR LLC raised its holdings in shares of Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock worth $525,485,000 after purchasing an additional 576,768 shares during the period. State Street Corp raised its holdings in Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after buying an additional 100,145 shares during the period. Geode Capital Management LLC lifted its position in Belden by 0.6% during the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock valued at $112,580,000 after buying an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Belden by 10.6% during the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after buying an additional 68,151 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Belden by 15.8% during the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock worth $29,365,000 after buying an additional 42,600 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

Belden Stock Up 1.3 %

Shares of BDC stock traded up $1.48 on Thursday, hitting $115.95. The stock had a trading volume of 213,414 shares, compared to its average volume of 231,022. The stock's 50 day moving average is $119.36 and its 200-day moving average is $109.47. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 26.97 and a beta of 1.09. Belden Inc. has a 52-week low of $71.20 and a 52-week high of $131.82. 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 (NYSE:BDC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. As a group, research analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden's dividend payout ratio is presently 4.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BDC. Benchmark raised their target price on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Truist Financial raised their price objective on Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $122.75.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 1,324 shares of the business's stock in a transaction dated 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 owns 9,643 shares of the company's stock, valued at approximately $1,132,956.07. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is currently owned by corporate insiders.

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.