Renaissance Technologies LLC Purchases 7,600 Shares of Belden Inc. (NYSE:BDC)

Renaissance Technologies LLC boosted its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 277,555 shares of the industrial products company's stock after buying an additional 7,600 shares during the period. Renaissance Technologies LLC owned approximately 0.69% of Belden worth $31,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Belden during the fourth quarter worth $26,000. First Horizon Advisors Inc. raised its stake in shares of Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 211 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Belden by 31.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 199 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Belden by 72.3% during the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company's stock worth $167,000 after buying an additional 599 shares during the period. Institutional investors own 98.75% of the company's stock.

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Insider Activity

In related news, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total transaction of $441,882.00. Following the completion of the transaction, the director now directly owns 4,199 shares of the company's stock, valued at $441,776.79. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Leah Tate sold 2,400 shares of the company'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 completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,428 shares of company stock worth $2,589,774. Insiders own 1.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BDC shares. The Goldman Sachs Group lowered their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. StockNews.com cut Belden from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Loop Capital dropped their target price on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark reissued a "buy" rating and issued a $130.00 price objective on shares of Belden in a report on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $128.20.

Belden Price Performance

NYSE:BDC traded up $0.07 during mid-day trading on Tuesday, reaching $94.89. The stock had a trading volume of 197,441 shares, compared to its average volume of 274,068. The stock has a 50-day simple moving average of $104.26 and a two-hundred day simple moving average of $113.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. Belden Inc. has a 12 month low of $80.90 and a 12 month high of $131.82. The stock has a market capitalization of $3.77 billion, a PE ratio of 19.73 and a beta of 1.07.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden's payout ratio is presently 4.16%.

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.