Geode Capital Management LLC Increases Stock Position in Belden Inc. (NYSE:BDC)

Geode Capital Management LLC lifted its position in shares of Belden Inc. (NYSE:BDC) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 960,974 shares of the industrial products company’s stock after purchasing an additional 5,727 shares during the period. Geode Capital Management LLC’s holdings in Belden were worth $112,580,000 at the end of the most recent quarter.

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

Belden Price Performance

BDC opened at $118.83 on Wednesday. Belden Inc. has a twelve month low of $71.20 and a twelve month high of $131.82. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 27.63 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. The company has a fifty day simple moving average of $120.77 and a 200 day simple moving average of $107.41.

Belden (NYSE:BDC) last announced 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. The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Equities research analysts expect that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is currently 4.65%.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 3,000 shares of the 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 transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade 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. Corporate insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark lifted their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.