Hudson Bay Capital Management LP Invests $2.25 Million in Belden Inc. (NYSE:BDC)

Hudson Bay Capital Management LP purchased a new position in shares of Belden Inc. (NYSE:BDC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the industrial products company’s stock, valued at approximately $2,252,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Belden during the 4th quarter worth $26,000. Quarry LP boosted its position in shares of Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after buying an additional 265 shares in the last quarter. First Horizon Advisors Inc. boosted its position 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 worth $71,000 after buying an additional 211 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after buying an additional 105 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gregory James Mccray sold 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now owns 4,199 shares in the company, valued at approximately $441,776.79. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 in the company, valued at $11,939,527.05. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,028 shares of company stock valued at $2,314,326. Insiders own 1.48% of the company’s stock.

Belden Price Performance

NYSE:BDC opened at $114.24 on Wednesday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 23.75 and a beta of 1.24. 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’s 50-day moving average is $100.20 and its two-hundred day moving average is $111.16. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The business had revenue of $624.86 million for the quarter, compared to analysts’ expectations of $615.81 million. During the same period last year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Research analysts expect that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. Belden’s dividend payout ratio is presently 3.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. StockNews.com lowered shares of Belden from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $120.00 target price on shares of Belden in a report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $126.20.

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.