Creative Planning boosted its stake in Belden Inc. (NYSE:BDC - Free Report) by 40.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,941 shares of the industrial products company's stock after purchasing an additional 5,705 shares during the quarter. Creative Planning's holdings in Belden were worth $2,336,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. F M Investments LLC purchased a new position in shares of Belden during the 2nd quarter valued at about $12,659,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock valued at $9,651,000 after buying an additional 98,503 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock valued at $29,365,000 after buying an additional 42,600 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Belden by 15.7% during the 1st quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company's stock valued at $22,631,000 after buying an additional 33,160 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Belden during the 2nd quarter valued at about $1,119,000. Institutional investors own 98.75% of the company's stock.
Wall Street Analysts Forecast Growth
BDC has been the topic of a number of research reports. Vertical Research assumed coverage on Belden in a report on Tuesday, July 23rd. They set a "buy" rating and a $110.00 price objective on the stock. Benchmark raised their price target on Belden from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Finally, Truist Financial raised their price target on Belden from $123.00 to $124.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Belden currently has an average rating of "Buy" and an average price target of $112.00.
Check Out Our Latest Report on Belden
Insider Activity at Belden
In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares in the company, valued at $667,444.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of Belden stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the transaction, the director now owns 6,954 shares of the company's stock, valued at $667,444.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,318 shares of company stock worth $1,020,715 over the last ninety days. 1.59% of the stock is owned by corporate insiders.
Belden Trading Up 1.7 %
BDC traded up $1.95 on Monday, hitting $118.50. 202,121 shares of the company were exchanged, compared to its average volume of 269,351. The stock has a market capitalization of $4.82 billion, a PE ratio of 23.19 and a beta of 1.07. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $123.03. The firm has a fifty day simple moving average of $111.28 and a two-hundred day simple moving average of $99.28. 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 (NYSE:BDC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business's quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company earned $1.91 EPS. Sell-side analysts expect that Belden Inc. will post 6.04 earnings per share for the current year.
Belden Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden's dividend payout ratio is presently 3.91%.
Belden Company Profile
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Free Report)
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.
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