KLP Kapitalforvaltning AS Makes New Investment in Belden Inc. (NYSE:BDC)

KLP Kapitalforvaltning AS purchased a new stake in Belden Inc. (NYSE:BDC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,600 shares of the industrial products company's stock, valued at approximately $969,000.

A number of other hedge funds also recently modified their holdings of BDC. AXQ Capital LP bought a new position in shares of Belden during the 4th quarter worth about $209,000. Magnetar Financial LLC acquired a new stake in Belden during the fourth quarter valued at approximately $370,000. Teacher Retirement System of Texas boosted its holdings in Belden by 58.5% during the fourth quarter. Teacher Retirement System of Texas now owns 36,518 shares of the industrial products company's stock valued at $4,112,000 after purchasing an additional 13,471 shares in the last quarter. Xponance Inc. grew its stake in shares of Belden by 4.5% in the 4th quarter. Xponance Inc. now owns 5,740 shares of the industrial products company's stock valued at $646,000 after purchasing an additional 247 shares during the period. Finally, Boston Partners raised its holdings in shares of Belden by 43.1% in the 4th quarter. Boston Partners now owns 230,170 shares of the industrial products company's stock worth $26,387,000 after buying an additional 69,365 shares in the last quarter. Institutional investors own 98.75% of the company's stock.

Belden Price Performance

Belden stock traded down $4.01 on Friday, reaching $88.99. The company's stock had a trading volume of 503,960 shares, compared to its average volume of 269,878. The business's fifty day moving average price is $107.97 and its 200 day moving average price is $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 cap of $3.58 billion, a price-to-earnings ratio of 18.50 and a beta of 1.02. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82.

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Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, March 13th. Belden's dividend payout ratio is currently 4.16%.

Wall Street Analysts Forecast Growth

BDC has been the topic of a number of analyst reports. Loop Capital lowered their price target on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, Benchmark reiterated a "buy" rating and set a $130.00 target price on shares of Belden in a research report on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $130.25.

Insider Buying and Selling

In other Belden news, SVP Leah Tate sold 2,400 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the transaction, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of Belden stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the sale, the chief executive officer now owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock worth $2,589,774 in the last quarter. Insiders own 1.59% of the company's stock.

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.