Kennondale Capital Management LLC Invests $715,000 in Belden Inc. (NYSE:BDC)

Kennondale Capital Management LLC acquired a new stake in shares of Belden Inc. (NYSE:BDC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,345 shares of the industrial products company's stock, valued at approximately $715,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Belden during the third quarter valued at approximately $33,000. First Horizon Advisors Inc. increased its holdings in 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 buying an additional 209 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after buying an additional 199 shares during the last quarter. Principal Securities Inc. increased its holdings in Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after buying an additional 105 shares during the last quarter. Finally, KBC Group NV increased its holdings in 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 buying an additional 274 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Insider Activity at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the transaction, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashish Chand sold 14,535 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company's stock, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,428 shares of company stock valued at $2,589,774. Corporate insiders own 1.59% of the company's stock.

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Belden Price Performance

Shares of NYSE BDC traded down $0.87 during midday trading on Friday, reaching $101.91. The stock had a trading volume of 705,161 shares, compared to its average volume of 256,650. The stock has a 50-day moving average of $111.47 and a 200-day moving average of $114.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 21.19 and a beta of 1.02. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, research analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.20%. Belden's payout ratio is 4.16%.

Analysts Set New Price Targets

BDC has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $130.00 target price on shares of Belden in a report on Monday, February 10th. StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Finally, Loop Capital reduced their price objective on shares of Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $130.25.

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.