Proficio Capital Partners LLC Takes Position in Belden Inc. (NYSE:BDC)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of BDC. FMR LLC boosted its position in shares of Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock worth $525,485,000 after acquiring an additional 576,768 shares during the last quarter. Foundry Partners LLC purchased a new stake in Belden during the third quarter valued at $11,814,000. State Street Corp raised its stake in Belden by 6.8% during 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 purchasing an additional 100,145 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Belden by 10.6% during 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 purchasing an additional 68,151 shares in the last quarter. Finally, Barclays PLC raised its stake in Belden by 189.4% during the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock valued at $9,386,000 after purchasing an additional 52,439 shares in the last quarter. Institutional investors own 98.75% of the company's stock.

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Belden Trading Up 0.3 %

Shares of BDC traded up $0.30 during midday trading on Friday, hitting $104.46. The stock had a trading volume of 290,939 shares, compared to its average volume of 255,367. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82. The firm has a market cap of $4.21 billion, a PE ratio of 21.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock's 50 day moving average is $113.84 and its 200 day moving average is $114.98.

Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced 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. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Thursday, March 13th. Belden's dividend payout ratio is currently 4.16%.

Insider Activity

In related news, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now owns 23,243 shares of the company's stock, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan C. Klein sold 2,129 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the transaction, the director now directly owns 9,968 shares in the company, valued at $1,096,480. This represents a 17.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BDC has been the topic of a number of recent research reports. StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. 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. Finally, Benchmark reaffirmed a "buy" rating and set a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Belden has a consensus rating of "Buy" and a consensus target price of $130.25.

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.