Belden Inc. (NYSE:BDC) Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in Belden Inc. (NYSE:BDC) by 43.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,200 shares of the industrial products company’s stock after purchasing an additional 16,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Belden were worth $4,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Belden in the 1st quarter worth $32,000. Quadrant Capital Group LLC boosted its position in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 244 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Belden during the fourth quarter worth $72,000. TFO Wealth Partners LLC increased its holdings in Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after buying an additional 261 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the transaction, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total value of $156,345.03. Following the transaction, the director now directly owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $911,900 in the last ninety days. 1.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial reaffirmed a “buy” rating and issued a $119.00 price target (up from $101.00) on shares of Belden in a research note on Friday, June 14th. Loop Capital upped their target price on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Finally, Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Belden in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Belden Stock Down 1.0 %

Belden stock traded down $0.96 during midday trading on Thursday, hitting $92.10. 297,825 shares of the stock were exchanged, compared to its average volume of 269,286. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $92.15 and its 200-day moving average price is $85.18. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 18.02 and a beta of 1.09.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. On average, research analysts expect that Belden Inc. will post 5.77 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

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.