Edgestream Partners L.P. Acquires Shares of 13,794 Belden Inc. (NYSE:BDC)

Edgestream Partners L.P. bought a new position in Belden Inc. (NYSE:BDC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,794 shares of the industrial products company’s stock, valued at approximately $1,553,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in Belden in the third quarter valued at about $687,000. Los Angeles Capital Management LLC purchased a new position in shares of Belden during the 3rd quarter worth approximately $608,000. Citigroup Inc. lifted its holdings 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 buying an additional 19,849 shares during the period. Geode Capital Management LLC boosted its stake in shares of Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after buying an additional 5,727 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Belden by 32.4% in the third quarter. Cerity Partners LLC now owns 12,759 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Down 3.2 %

BDC opened at $101.11 on Tuesday. Belden Inc. has a one year low of $80.90 and a one year high of $131.82. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 21.02 and a beta of 1.02. The business’s fifty day moving average is $113.62 and its two-hundred day moving average is $115.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. Analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.20%. Belden’s dividend payout ratio is currently 4.16%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BDC. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Belden in a research report on Monday, February 10th. Loop Capital cut their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Belden presently has an average rating of “Buy” and a consensus price target of $130.25.

Insider Activity at Belden

In other news, Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the sale, the director now directly owns 9,968 shares in the company, valued at $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory James Mccray sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now directly owns 4,199 shares in the company, valued at $441,776.79. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by corporate insiders.

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.