CIBC Private Wealth Group LLC Acquires 985 Shares of Belden Inc. (NYSE:BDC)

CIBC Private Wealth Group LLC boosted its holdings in Belden Inc. (NYSE:BDC) by 138.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,696 shares of the industrial products company’s stock after buying an additional 985 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Belden were worth $197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares in the last quarter. Geode Capital Management LLC lifted its position in Belden by 0.6% during 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 purchasing an additional 5,727 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after buying an additional 68,151 shares in the last quarter. Norges Bank bought a new position in shares of Belden in the 4th quarter worth $54,167,000. Finally, JPMorgan Chase & Co. raised its position in shares of Belden by 61.2% during the 4th quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company’s stock valued at $33,212,000 after buying an additional 111,952 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC opened at $88.99 on Monday. The company has a 50-day simple moving average of $107.97 and a two-hundred day simple moving average of $114.76. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 18.50 and a beta of 1.07. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, equities analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, March 13th. Belden’s payout ratio is 4.16%.

Insider Buying and Selling

In other Belden news, Director Gregory James Mccray sold 4,200 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now owns 4,199 shares in the company, valued at approximately $441,776.79. The trade was a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Leah Tate sold 2,400 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the sale, the senior vice president now owns 23,243 shares of the company’s stock, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,428 shares of company stock valued at $2,589,774 over the last three months. 1.59% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.