3,769 Shares in Belden Inc. (NYSE:BDC) Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC bought a new position in shares of Belden Inc. (NYSE:BDC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,769 shares of the industrial products company’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDC. Blue Trust Inc. lifted its holdings in Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 261 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Belden by 15.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 209 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in Belden by 181.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,188 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 1,410 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Belden during the third quarter worth about $213,000. Finally, GW Henssler & Associates Ltd. bought a new position in Belden during the third quarter worth about $225,000. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BDC has been the topic of several recent analyst reports. StockNews.com lowered Belden from a “buy” rating to a “hold” rating in a report on Monday. Truist Financial boosted their price target on Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Belden Stock Performance

BDC opened at $84.30 on Wednesday. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The firm has a market capitalization of $3.43 billion, a PE ratio of 14.89 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The business’s 50-day simple moving average is $86.92 and its 200 day simple moving average is $78.31.

Belden (NYSE:BDC) last released its earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.34. Belden had a return on equity of 25.11% and a net margin of 9.66%. The business had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. During the same quarter in the prior year, the company posted $1.75 earnings per share. Belden’s revenue was down 16.4% on a year-over-year basis. As a group, sell-side analysts expect that Belden Inc. will post 5.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.24%. Belden’s payout ratio is presently 3.53%.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

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.