Barclays PLC Boosts Stake in Belden Inc. (NYSE:BDC)

Barclays PLC raised its position in Belden Inc. (NYSE:BDC) by 189.4% during the third quarter, HoldingsChannel.com reports. The firm owned 80,132 shares of the industrial products company’s stock after buying an additional 52,439 shares during the quarter. Barclays PLC’s holdings in Belden were worth $9,386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BDC. Matrix Trust Co acquired a new stake in Belden during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its position in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 117 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Belden in the 3rd quarter valued at $33,000. First Horizon Advisors Inc. lifted its holdings in shares of Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 209 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Belden during the 2nd quarter worth $95,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden has an average rating of “Buy” and an average target price of $122.75.

Belden Stock Performance

NYSE:BDC opened at $118.83 on Wednesday. The firm has a 50-day moving average of $120.77 and a two-hundred day moving average of $107.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The stock has a market cap of $4.79 billion, a P/E 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.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect 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. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s payout ratio is currently 4.65%.

Insider Buying and Selling

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

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.