International Assets Investment Management LLC Acquires Shares of 70,278 Belden Inc. (NYSE:BDC)

International Assets Investment Management LLC acquired a new position in shares of Belden Inc. (NYSE:BDC - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 70,278 shares of the industrial products company's stock, valued at approximately $82,320,000. International Assets Investment Management LLC owned 0.17% of Belden as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BDC. GAMMA Investing LLC increased its stake in shares of Belden by 72.2% in the 3rd 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. State of Michigan Retirement System increased its stake in Belden by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company's stock valued at $944,000 after purchasing an additional 200 shares in the last quarter. Matrix Trust Co acquired a new stake in Belden in the third quarter worth $25,000. Atlas Capital Advisors LLC boosted its position in shares of Belden by 16.3% during the second quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company's stock worth $165,000 after purchasing an additional 246 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Belden by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company's stock valued at $871,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

Insider Buying and Selling

In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % 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. In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nancy E. Calderon sold 2,500 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,318 shares of company stock worth $1,020,715. Corporate insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BDC shares. Vertical Research began coverage on Belden in a research note on Tuesday, July 23rd. They set a "buy" rating and a $110.00 price objective on the stock. Truist Financial lifted their price objective on Belden from $123.00 to $124.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Finally, Benchmark increased their target price on Belden from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $112.00.

Belden Stock Down 0.8 %

Belden stock traded down $0.99 during midday trading on Friday, reaching $116.55. The stock had a trading volume of 163,660 shares, compared to its average volume of 269,675. The stock has a market capitalization of $4.74 billion, a P/E ratio of 22.81 and a beta of 1.07. The firm's fifty day simple moving average is $111.01 and its 200-day simple moving average is $99.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $123.03.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company had revenue of $604.34 million for the quarter, compared to the consensus estimate of $574.32 million. During the same period last year, the company earned $1.91 earnings per share. The firm's revenue was down 12.7% compared to the same quarter last year. As a group, analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden's dividend payout ratio is currently 3.91%.

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.