Belden Inc. (NYSE:BDC) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Belden Inc. (NYSE:BDC) by 189.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,132 shares of the industrial products company’s stock after buying an additional 52,439 shares during the quarter. Barclays PLC owned approximately 0.20% of Belden worth $9,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of BDC. FMR LLC grew its holdings 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 buying an additional 576,768 shares during the last quarter. State Street Corp increased its holdings in shares of Belden by 6.8% in 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 during the period. Renaissance Technologies LLC lifted its stake in shares of Belden by 15.8% in the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after acquiring an additional 42,600 shares during the period. Retirement Systems of Alabama raised its holdings in Belden by 2.1% during the second quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company’s stock worth $23,410,000 after purchasing an additional 5,209 shares in the last quarter. Finally, Waters Parkerson & CO. LLC lifted its position in Belden by 2.2% in the second quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company’s stock valued at $20,103,000 after purchasing an additional 4,636 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Performance

Shares of BDC stock opened at $118.83 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The stock has a market cap of $4.79 billion, a PE ratio of 27.63 and a beta of 1.08. Belden Inc. has a 1 year low of $71.20 and a 1 year high of $131.82. The stock has a fifty day moving average price of $120.77 and a 200 day moving average price of $107.41.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period last year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden’s payout ratio is 4.65%.

Wall Street Analyst Weigh In

BDC has been the subject of a number of analyst reports. Truist Financial increased their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark increased their price objective on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has an average rating of “Buy” and an average target price of $122.75.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.59% of the stock is owned by insiders.

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.