Los Angeles Capital Management LLC Takes $608,000 Position in Belden Inc. (NYSE:BDC)

Los Angeles Capital Management LLC purchased a new position in Belden Inc. (NYSE:BDC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,193 shares of the industrial products company's stock, valued at approximately $608,000.

Other hedge funds have also bought and sold shares of the company. Matrix Trust Co purchased a new stake in Belden in the 3rd quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Belden during the 2nd quarter valued at about $28,000. GAMMA Investing LLC raised its position in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock valued at $33,000 after buying an additional 117 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Belden during the 2nd quarter valued at about $95,000. Finally, Covestor Ltd raised its position in shares of Belden by 33.9% during the 1st quarter. Covestor Ltd now owns 1,166 shares of the industrial products company's stock valued at $108,000 after buying an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Stock Performance

Shares of NYSE:BDC opened at $118.61 on Friday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 27.58 and a beta of 1.07. Belden Inc. has a 12 month low of $65.52 and a 12 month high of $131.82. The firm's 50-day moving average is $115.88 and its 200 day moving average is $102.87. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC - Get Free Report) last issued its earnings results 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 business had revenue of $654.90 million for the quarter, compared to the consensus estimate of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 EPS. Research analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden's dividend payout ratio is currently 4.65%.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 1,324 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the transaction, the chief accounting officer now directly owns 9,643 shares in the company, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Benchmark upped their target price on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Vertical Research assumed coverage on shares of Belden in a report on Tuesday, July 23rd. They set a "buy" rating and a $110.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $122.75.

About Belden

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.