Twelve Points Wealth Management LLC Has $2.48 Million Position in Belden Inc. (NYSE:BDC)

Twelve Points Wealth Management LLC cut its position in Belden Inc. (NYSE:BDC) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,025 shares of the industrial products company’s stock after selling 791 shares during the period. Twelve Points Wealth Management LLC’s holdings in Belden were worth $2,480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BDC. FMR LLC grew its position in shares of Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the period. State Street Corp raised its stake in shares of Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after purchasing an additional 100,145 shares during the period. Geode Capital Management LLC raised its position in Belden by 0.6% in the 3rd 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 during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after purchasing an additional 68,151 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Belden by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after purchasing an additional 23,936 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of Belden in a research report on Friday, January 24th. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Belden has an average rating of “Buy” and a consensus price target of $122.75.

Insider Transactions at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.59% of the company’s stock.

Belden Stock Up 1.6 %

BDC opened at $115.98 on Wednesday. The stock has a market cap of $4.68 billion, a PE ratio of 26.97 and a beta of 1.09. Belden Inc. has a 1-year low of $72.91 and a 1-year high of $131.82. 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 stock’s fifty day simple moving average is $118.29 and its 200 day simple moving average is $111.99.

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

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden’s payout ratio is 4.65%.

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.