Invenomic Capital Management LP Invests $4.45 Million in Belden Inc. (NYSE:BDC)

Invenomic Capital Management LP bought a new position in Belden Inc. (NYSE:BDCFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 57,537 shares of the industrial products company’s stock, valued at approximately $4,445,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BDC. FMR LLC lifted its position in shares of Belden by 1,365.5% in the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after purchasing an additional 956,136 shares during the period. Norges Bank purchased a new stake in shares of Belden in the 4th quarter worth about $35,403,000. Pzena Investment Management LLC lifted its position in Belden by 32.5% during the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock valued at $70,678,000 after acquiring an additional 224,486 shares during the period. Channing Capital Management LLC lifted its position in Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after acquiring an additional 209,052 shares during the period. Finally, Vanguard Group Inc. lifted its position in Belden by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after acquiring an additional 92,544 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Down 0.7 %

Shares of Belden stock opened at $94.14 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. The stock has a market capitalization of $3.83 billion, a PE ratio of 18.42 and a beta of 1.09. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a 50-day simple moving average of $89.97 and a two-hundred day simple moving average of $82.84.

Belden (NYSE:BDCGet Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, analysts anticipate that Belden Inc. will post 5.77 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden’s dividend payout ratio is presently 3.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BDC shares. Benchmark reissued a “buy” rating and set a $100.00 price target on shares of Belden in a research report on Monday, May 6th. StockNews.com cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Loop Capital lifted their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Truist Financial lifted their price target on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.40.

Get Our Latest Analysis on Belden

Insider Transactions at Belden

In other news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jonathan C. Klein sold 1,093 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total transaction of $104,381.50. Following the completion of the sale, the director now directly owns 13,704 shares in the company, valued at $1,308,732. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The disclosure for this sale can be found here. Company insiders own 1.59% of the company’s stock.

Belden Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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