Harbor Capital Advisors Inc. Increases Stock Position in Belden Inc. (NYSE:BDC)

Harbor Capital Advisors Inc. raised its stake in Belden Inc. (NYSE:BDC - Free Report) by 126.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 33,505 shares of the industrial products company's stock after purchasing an additional 18,678 shares during the quarter. Harbor Capital Advisors Inc. owned 0.08% of Belden worth $3,924,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System boosted its position in Belden by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company's stock valued at $944,000 after buying an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Belden by 11.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company's stock worth $9,787,000 after purchasing an additional 11,010 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Belden by 9.4% in the first quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company's stock worth $2,713,000 after purchasing an additional 2,507 shares during the last quarter. Whittier Trust Co. increased its holdings in Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 298 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in Belden by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company's stock valued at $3,378,000 after purchasing an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BDC. Vertical Research assumed coverage on Belden in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price objective on the stock. Benchmark lifted their price target on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday. Finally, Truist Financial boosted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden has an average rating of "Buy" and an average price target of $122.75.

Belden Stock Up 0.8 %

Shares of NYSE:BDC traded up $0.93 during trading on Monday, hitting $116.17. The stock had a trading volume of 190,844 shares, compared to its average volume of 272,077. The company has a market capitalization of $4.74 billion, a PE ratio of 27.02 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm's fifty day moving average is $112.21 and its 200 day moving average is $100.19. Belden Inc. has a 12 month low of $63.00 and a 12 month high of $123.03.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the prior year, the company earned $1.78 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Brian Edward Anderson sold 1,262 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $3,812,074.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.59% of the company's stock.

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.