Great West Life Assurance Co. Can bought a new stake in shares of Belden Inc. (NYSE:BDC – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 53,986 shares of the industrial products company’s stock, valued at approximately $3,242,000. Great West Life Assurance Co. Can owned approximately 0.12% of Belden at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Newport Trust Co raised its stake in Belden by 2.3% during the 3rd quarter. Newport Trust Co now owns 240,060 shares of the industrial products company’s stock valued at $14,408,000 after acquiring an additional 5,343 shares in the last quarter. Ziegler Capital Management LLC bought a new stake in Belden during the 3rd quarter valued at $7,424,000. USA Financial Portformulas Corp bought a new stake in Belden during the 3rd quarter valued at $32,000. Granite Investment Partners LLC raised its stake in Belden by 2.6% during the 3rd quarter. Granite Investment Partners LLC now owns 328,724 shares of the industrial products company’s stock valued at $19,730,000 after acquiring an additional 8,348 shares in the last quarter. Finally, Twelve Points Wealth Management LLC raised its stake in Belden by 2.5% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 16,266 shares of the industrial products company’s stock valued at $976,000 after acquiring an additional 404 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.
Insider Buying and Selling
In other news, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $79.82, for a total transaction of $79,820.00. Following the transaction, the director now owns 14,053 shares in the company, valued at $1,121,710.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.06% of the company’s stock.
Belden Stock Performance
Belden (NYSE:BDC – Get Rating) last issued its earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.20. The business had revenue of $670.49 million for the quarter, compared to analysts’ expectations of $634.29 million. Belden had a return on equity of 26.35% and a net margin of 5.53%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. As a group, sell-side analysts forecast that Belden Inc. will post 6.33 earnings per share for the current fiscal year.
Belden Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Wednesday, December 14th. Belden’s payout ratio is 6.21%.
Analyst Ratings Changes
Several analysts have weighed in on BDC shares. The Goldman Sachs Group lifted their target price on Belden from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, November 3rd. StockNews.com assumed coverage on Belden in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Jefferies Financial Group assumed coverage on Belden in a research note on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Belden from $77.00 to $82.00 in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.
Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.
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