Belden Inc. (NYSE:BDC) Stock Holdings Lifted by TD Private Client Wealth LLC

TD Private Client Wealth LLC raised its position in Belden Inc. (NYSE:BDC) by 72.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,427 shares of the industrial products company’s stock after buying an additional 599 shares during the quarter. TD Private Client Wealth LLC’s holdings in Belden were worth $167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in Belden in the third quarter valued at about $608,000. GSA Capital Partners LLP bought a new position in shares of Belden in the 3rd quarter valued at approximately $687,000. Citigroup Inc. raised its stake in shares of Belden by 157.5% in the 3rd quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company’s stock valued at $3,801,000 after acquiring an additional 19,849 shares in the last quarter. Foster & Motley Inc. boosted its position in Belden by 25.3% during the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after purchasing an additional 7,819 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in Belden during the second quarter valued at approximately $503,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling

In other Belden news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares in the company, valued at $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by insiders.

Belden Trading Down 1.5 %

Shares of BDC stock opened at $121.00 on Monday. Belden Inc. has a 1 year low of $71.20 and a 1 year high of $131.82. The firm’s fifty day simple moving average is $120.64 and its 200 day simple moving average is $107.05. The firm has a market capitalization of $4.88 billion, a P/E ratio of 28.14 and a beta of 1.08. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Belden’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is currently 4.65%.

Wall Street Analysts Forecast Growth

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

Belden Company 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.