Clark Capital Management Group Inc. lessened its holdings in shares of Belden Inc. (NYSE:BDC – Get Rating) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,376 shares of the industrial products company's stock after selling 1,178 shares during the period. Clark Capital Management Group Inc. owned about 0.11% of Belden worth $2,735,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Inspire Investing LLC purchased a new position in Belden during the 1st quarter valued at about $236,000. Allianz Asset Management GmbH grew its holdings in shares of Belden by 991.6% during the 4th quarter. Allianz Asset Management GmbH now owns 78,933 shares of the industrial products company's stock worth $5,188,000 after acquiring an additional 71,702 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in shares of Belden during the 4th quarter worth approximately $56,653,000. Twelve Points Wealth Management LLC purchased a new position in shares of Belden during the 4th quarter worth approximately $446,000. Finally, Knowledge Leaders Capital LLC grew its holdings in shares of Belden by 11.7% during the 1st quarter. Knowledge Leaders Capital LLC now owns 13,567 shares of the industrial products company's stock worth $752,000 after acquiring an additional 1,423 shares during the period. Hedge funds and other institutional investors own 99.88% of the company's stock.
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Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Truist Financial upped their target price on Belden from $67.00 to $77.00 in a report on Thursday, August 4th. The Goldman Sachs Group boosted their price target on Belden from $59.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, August 4th. Finally, TheStreet raised Belden from a "c+" rating to a "b-" rating in a research report on Thursday, May 26th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $78.50.
Belden Stock Performance
BDC stock opened at $65.97 on Monday. The stock has a market capitalization of $2.87 billion, a PE ratio of 34.72 and a beta of 1.33. Belden Inc. has a 12-month low of $47.89 and a 12-month high of $70.97. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 1.08. The stock's 50 day simple moving average is $63.86 and its 200 day simple moving average is $57.68.
Belden (NYSE:BDC – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.17. The business had revenue of $666.60 million for the quarter, compared to analysts' expectations of $633.68 million. Belden had a return on equity of 25.73% and a net margin of 3.37%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. As a group, research analysts forecast that Belden Inc. will post 6.04 earnings per share for the current fiscal year.
Belden Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. Belden's payout ratio is 10.53%.
Insider Transactions at Belden
In other news, CEO Roel Vestjens sold 14,424 shares of the company's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.66, for a total value of $961,503.84. Following the completion of the sale, the chief executive officer now directly owns 44,865 shares in the company, valued at approximately $2,990,700.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Belden news, CEO Roel Vestjens sold 14,424 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.66, for a total value of $961,503.84. Following the completion of the sale, the chief executive officer now owns 44,865 shares in the company, valued at approximately $2,990,700.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ashish Chand purchased 9,949 shares of the business's stock in a transaction on Friday, June 17th. The stock was acquired at an average price of $50.36 per share, with a total value of $501,031.64. Following the purchase, the executive vice president now directly owns 55,772 shares in the company, valued at approximately $2,808,677.92. The disclosure for this purchase can be found here. Insiders sold 19,424 shares of company stock worth $1,294,844 in the last three months. Corporate insiders own 1.06% of the company's stock.
Belden Profile
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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.
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