Kennondale Capital Management LLC Purchases New Shares in Belden Inc. (NYSE:BDC)

Kennondale Capital Management LLC purchased a new stake in Belden Inc. (NYSE:BDC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,345 shares of the industrial products company’s stock, valued at approximately $715,000.

Several other large investors have also added to or reduced their stakes in the stock. Principal Securities Inc. boosted its position in shares of Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Belden by 5.4% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock valued at $257,000 after buying an additional 116 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock valued at $1,334,000 after buying an additional 129 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

BDC stock opened at $103.00 on Tuesday. The company has a market cap of $4.15 billion, a P/E ratio of 21.41 and a beta of 1.02. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock’s fifty day moving average price is $112.38 and its 200-day moving average price is $114.85.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. Belden’s dividend payout ratio is currently 4.16%.

Wall Street Analyst Weigh In

Several research firms have commented on BDC. Loop Capital dropped their target price on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $130.25.

Insider Buying and Selling

In related news, Director Gregory James Mccray sold 4,200 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now directly owns 4,199 shares of the company’s stock, valued at approximately $441,776.79. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Leah Tate sold 2,400 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares in the company, 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. In the last three months, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by company insiders.

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.