Foundry Partners LLC Purchases Shares of 100,862 Belden Inc. (NYSE:BDC)

Foundry Partners LLC purchased a new stake in shares of Belden Inc. (NYSE:BDC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 100,862 shares of the industrial products company’s stock, valued at approximately $11,814,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BDC. F M Investments LLC bought a new stake in shares of Belden during the 2nd quarter worth $12,659,000. Public Employees Retirement Association of Colorado increased its position in shares of Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after purchasing an additional 98,503 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Belden during the 3rd quarter valued at about $82,320,000. Renaissance Technologies LLC grew its position in Belden by 15.8% during the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after acquiring an additional 42,600 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Belden by 126.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company’s stock valued at $3,924,000 after purchasing an additional 18,678 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Trading Down 0.0 %

NYSE:BDC opened at $118.67 on Thursday. Belden Inc. has a 12 month low of $65.52 and a 12 month high of $131.82. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 27.60 and a beta of 1.07. The company has a 50-day moving average price of $117.04 and a 200-day moving average price of $103.55. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.78 EPS. Equities analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Insider Buying and Selling

In related 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 sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This represents a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Belden 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.