Pzena Investment Management LLC Increases Stake in Belden Inc. (NYSE:BDC)

Pzena Investment Management LLC grew its position in Belden Inc. (NYSE:BDCFree Report) by 32.5% during the 4th quarter, Holdings Channel reports. The fund owned 914,924 shares of the industrial products company’s stock after buying an additional 224,486 shares during the quarter. Pzena Investment Management LLC’s holdings in Belden were worth $70,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Belden in the 4th quarter valued at approximately $72,000. Blue Trust Inc. boosted its stake in shares of Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after buying an additional 261 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Belden by 15.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after acquiring an additional 209 shares during the period. Finally, Thoroughbred Financial Services LLC raised its position in Belden by 20.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 2,692 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 458 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial upped their target price on shares of Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. 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, Benchmark restated a “buy” rating and issued a $100.00 price target on shares of Belden in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Get Our Latest Stock Analysis on BDC

Belden Price Performance

Shares of BDC traded up $0.96 during mid-day trading on Wednesday, reaching $95.84. 114,298 shares of the company’s stock were exchanged, compared to its average volume of 263,009. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $88.48 and a two-hundred day simple moving average of $80.19. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 18.57 and a beta of 1.07.

Belden (NYSE:BDCGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. 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 firm posted $1.68 earnings per share. On average, sell-side analysts predict that Belden Inc. will post 5.77 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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