Chesapeake Capital Corp IL Buys 813 Shares of Belden Inc. (NYSE:BDC)

Chesapeake Capital Corp IL boosted its stake in Belden Inc. (NYSE:BDC) by 16.8% in the third quarter, HoldingsChannel reports. The firm owned 5,651 shares of the industrial products company’s stock after acquiring an additional 813 shares during the period. Chesapeake Capital Corp IL’s holdings in Belden were worth $655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Natixis Advisors LLC increased its holdings in Belden by 1.9% in the third quarter. Natixis Advisors LLC now owns 39,239 shares of the industrial products company’s stock valued at $4,596,000 after purchasing an additional 741 shares during the last quarter. KBC Group NV increased its holdings in Belden by 27.8% in the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 274 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Belden by 3.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,494 shares of the industrial products company’s stock valued at $2,049,000 after purchasing an additional 617 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Belden in the third quarter valued at about $687,000. Finally, Los Angeles Capital Management LLC bought a new stake in Belden in the third quarter valued at about $608,000. Institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

In related news, CAO Doug Zink sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.59% of the stock is owned by insiders.

Belden Stock Down 1.0 %

NYSE:BDC opened at $118.61 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 27.58 and a beta of 1.07. The stock has a 50-day moving average price of $115.88 and a two-hundred day moving average price of $102.87. Belden Inc. has a 1 year low of $65.52 and a 1 year high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. Belden’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, equities analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s dividend payout ratio is currently 4.65%.

Analyst Ratings Changes

A number of research analysts have issued reports on BDC shares. Benchmark boosted their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Vertical Research started coverage on Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden currently has a consensus rating of “Buy” and a consensus target price of $122.75.

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.