Quantedge Capital Pte Ltd Invests $1.51 Million in Belden Inc. (NYSE:BDC)

Quantedge Capital Pte Ltd bought a new stake in shares of Belden Inc. (NYSE:BDC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,400 shares of the industrial products company’s stock, valued at approximately $1,509,000.

Several other hedge funds also recently made changes to their positions in BDC. Aster Capital Management DIFC Ltd acquired a new stake in shares of Belden during the fourth quarter valued at approximately $26,000. Quarry LP boosted its holdings in shares of Belden by 208.7% during 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 during the period. First Horizon Advisors Inc. grew its position in shares of Belden by 49.9% in the fourth 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 last quarter. Parkside Financial Bank & Trust raised its stake in Belden by 31.3% during the 4th 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 during the last quarter. Finally, Principal Securities Inc. raised its stake in Belden by 9.6% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Activity at Belden

In related news, SVP Leah Tate sold 231 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the transaction, the senior vice president now directly owns 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory James Mccray sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the sale, the director now directly owns 4,199 shares in the company, valued at $441,776.79. This trade represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,259 shares of company stock worth $2,340,577 over the last quarter. 1.48% of the stock is owned by corporate insiders.

Belden Stock Down 0.7%

Belden stock opened at $113.09 on Thursday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 23.51 and a beta of 1.24. Belden Inc. has a 52-week low of $83.18 and a 52-week high of $131.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The firm has a 50 day moving average price of $100.38 and a two-hundred day moving average price of $111.17.

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

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Thursday, March 13th. Belden’s dividend payout ratio (DPR) is presently 3.86%.

Analyst Ratings Changes

BDC has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $120.00 target price on shares of Belden in a research report on Monday, May 5th. StockNews.com lowered shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Loop Capital dropped their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $126.20.

About Belden

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.