Dimensional Fund Advisors LP Acquires 46,655 Shares of Belden Inc. (NYSE:BDC)

Posted by MarketBeat News on May 22nd, 2023

Dimensional Fund Advisors LP increased its holdings in Belden Inc. (NYSE:BDC – Get Rating) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,492,554 shares of the industrial products company’s stock after purchasing an additional 46,655 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Belden were worth $107,318,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BDC. Channing Capital Management LLC raised its stake in Belden by 150.0% in the third quarter. Channing Capital Management LLC now owns 988,969 shares of the industrial products company’s stock worth $59,358,000 after buying an additional 593,351 shares in the last quarter. Waters Parkerson & CO. LLC acquired a new position in shares of Belden during the third quarter worth $11,030,000. New York State Common Retirement Fund increased its position in shares of Belden by 84.2% during the third quarter. New York State Common Retirement Fund now owns 277,977 shares of the industrial products company’s stock worth $16,684,000 after purchasing an additional 127,076 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Belden by 22,332.6% during the third quarter. Macquarie Group Ltd. now owns 127,417 shares of the industrial products company’s stock worth $7,682,000 after purchasing an additional 126,849 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Belden during the third quarter worth $7,082,000. Institutional investors own 99.88% of the company’s stock.

Belden Price Performance

Shares of NYSE:BDC opened at $85.58 on Monday. The company’s fifty day moving average price is $81.61 and its 200 day moving average price is $80.55. Belden Inc. has a 12 month low of $47.89 and a 12 month high of $92.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.70 and a quick ratio of 2.00. The firm has a market capitalization of $3.64 billion, a P/E ratio of 13.35 and a beta of 1.31.

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Belden (NYSE:BDC – Get Rating) last issued its earnings results on Wednesday, May 3rd. The industrial products company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.13. The business had revenue of $641.79 million for the quarter, compared to the consensus estimate of $624.46 million. Belden had a net margin of 10.69% and a return on equity of 26.83%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. As a group, sell-side analysts predict that Belden Inc. will post 7.11 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Tuesday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Monday, March 13th. Belden’s payout ratio is currently 3.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BDC. Loop Capital boosted their price objective on shares of Belden from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Truist Financial upped their price target on shares of Belden from $93.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Benchmark increased their target price on shares of Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. StockNews.com began coverage on shares of Belden in a research note on Thursday. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Belden has an average rating of “Moderate Buy” and a consensus target price of $98.80.

Insiders Place Their Bets

In other Belden news, Director Jonathan C. Klein sold 2,500 shares of Belden stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $81.49, for a total transaction of $203,725.00. Following the completion of the transaction, the director now owns 11,553 shares in the company, valued at $941,453.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Belden Profile

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.