State Street Corp Increases Holdings in Belden Inc. (NYSE:BDC)

State Street Corp increased its stake in Belden Inc. (NYSE:BDC) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,574,784 shares of the industrial products company’s stock after buying an additional 100,145 shares during the quarter. State Street Corp owned about 3.90% of Belden worth $184,532,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Matrix Trust Co bought a new stake in shares of Belden during the third quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden in the third quarter worth about $33,000. First Horizon Advisors Inc. boosted its stake in Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Belden during the second quarter worth $95,000. Institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BDC shares. Truist Financial lifted their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark increased their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $122.75.

Belden Price Performance

Shares of Belden stock opened at $122.84 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. Belden Inc. has a 12 month low of $71.20 and a 12 month high of $131.82. The stock has a market capitalization of $4.95 billion, a P/E ratio of 28.57 and a beta of 1.08. The business has a 50 day simple moving average of $120.56 and a two-hundred day simple moving average of $106.73.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) 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 company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the prior year, the company earned $1.78 EPS. Belden’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 0.16%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s payout ratio is currently 4.65%.

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.