Proficio Capital Partners LLC Makes New Investment in Belden Inc. (NYSE:BDC)

Proficio Capital Partners LLC acquired a new stake in Belden Inc. (NYSE:BDC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,225 shares of the industrial products company's stock, valued at approximately $2,841,000. Proficio Capital Partners LLC owned 0.06% of Belden at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after acquiring an additional 576,768 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Belden in the third quarter valued at about $11,814,000. State Street Corp grew its stake in shares of Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after acquiring an additional 100,145 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after acquiring an additional 68,151 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Belden by 189.4% in the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock valued at $9,386,000 after acquiring an additional 52,439 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

BDC has been the topic of several research reports. Loop Capital decreased their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Benchmark restated a "buy" rating and issued a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $130.25.

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Insider Activity

In related news, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the transaction, the chief executive officer now owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. This trade represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,428 shares of company stock worth $2,589,774. Corporate insiders own 1.59% of the company's stock.

Belden Price Performance

Belden stock traded down $0.87 during trading hours on Friday, reaching $101.91. 705,161 shares of the stock were exchanged, compared to its average volume of 256,650. The stock has a 50 day moving average of $111.47 and a two-hundred day moving average of $114.65. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The company has a market cap of $4.10 billion, a P/E ratio of 21.19 and a beta of 1.02.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates 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 EPS for the current fiscal year.

Belden Announces Dividend

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

Belden 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.