Prospera Private Wealth LLC Buys Shares of 284 Belden Inc. (NYSE:BDC)

Prospera Private Wealth LLC purchased a new position in Belden Inc. (NYSE:BDC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 284 shares of the industrial products company’s stock, valued at approximately $33,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Tidal Investments LLC raised its holdings in Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 8,169 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Belden during the third quarter valued at approximately $687,000. Public Employees Retirement Association of Colorado lifted its position in Belden by 1,724.8% during the first 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 acquiring an additional 98,503 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Belden in the third quarter valued at approximately $608,000. Finally, Foster & Motley Inc. grew its holdings in Belden by 25.3% in 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 last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CAO Doug Zink sold 1,324 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value 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. This represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.59% of the stock is currently owned by corporate insiders.

Belden Price Performance

NYSE BDC opened at $123.41 on Friday. The stock’s fifty day moving average price is $117.84 and its 200 day moving average price is $103.92. Belden Inc. has a 1 year low of $65.52 and a 1 year high of $131.82. 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 company has a market cap of $4.98 billion, a price-to-earnings ratio of 28.70 and a beta of 1.07.

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

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. Belden’s payout ratio is currently 4.65%.

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.