Twelve Points Wealth Management LLC Purchases 1,356 Shares of Belden Inc. (NYSE:BDC)

Twelve Points Wealth Management LLC increased its position in shares of Belden Inc. (NYSE:BDC) by 6.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,816 shares of the industrial products company’s stock after acquiring an additional 1,356 shares during the period. Belden comprises about 0.8% of Twelve Points Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Twelve Points Wealth Management LLC owned about 0.06% of Belden worth $2,672,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Creative Planning grew its stake in shares of Belden by 40.1% in the third quarter. Creative Planning now owns 19,941 shares of the industrial products company’s stock worth $2,336,000 after purchasing an additional 5,705 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Belden by 9.2% in the third quarter. Ritholtz Wealth Management now owns 5,679 shares of the industrial products company’s stock worth $665,000 after acquiring an additional 479 shares during the period. Matrix Trust Co bought a new stake in Belden in the third quarter valued at approximately $25,000. Kesler Norman & Wride LLC increased its position in Belden by 77.1% during the 3rd quarter. Kesler Norman & Wride LLC now owns 10,310 shares of the industrial products company’s stock valued at $1,208,000 after purchasing an additional 4,489 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 117 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Belden

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,318 shares of company stock valued at $1,020,715. 1.59% of the stock is owned by corporate insiders.

Belden Stock Performance

Shares of Belden stock opened at $120.47 on Thursday. The business has a 50-day simple moving average of $108.11 and a 200 day simple moving average of $97.57. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 23.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. Belden Inc. has a one year low of $60.54 and a one year high of $123.03.

Belden (NYSE:BDC) last issued its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The company had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. Belden’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $1.91 EPS. On average, research analysts anticipate that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s dividend payout ratio is presently 3.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BDC shares. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Benchmark lifted their price objective on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Truist Financial lifted their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden currently has a consensus rating of “Buy” and an average price target of $112.00.

About Belden

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.