Frontier Capital Management Co. LLC Grows Stock Holdings in Belden Inc. (NYSE:BDC)

Frontier Capital Management Co. LLC grew its stake in shares of Belden Inc. (NYSE:BDC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 457,313 shares of the industrial products company’s stock after acquiring an additional 17,120 shares during the period. Frontier Capital Management Co. LLC’s holdings in Belden were worth $51,498,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in Belden during the fourth quarter valued at approximately $26,000. Quarry LP raised its position in shares of Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after buying an additional 265 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after buying an additional 211 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Belden by 31.3% during the fourth 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 in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 105 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Stock Up 1.5 %

BDC stock opened at $105.11 on Thursday. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 21.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The business’s 50 day moving average price is $99.78 and its two-hundred day moving average price is $111.39. Belden Inc. has a fifty-two week low of $83.18 and a fifty-two week high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The business had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Belden’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden’s payout ratio is presently 3.86%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Loop Capital dropped 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 upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $120.00 price objective on shares of Belden in a research report on Monday. Finally, The Goldman Sachs Group reduced their price target on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Five equities research 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 company presently has an average rating of “Buy” and a consensus target price of $126.20.

Insider Transactions at Belden

In other news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at $11,939,527.05. This represents a 11.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory James Mccray sold 4,200 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock valued at $2,589,774 in the last quarter. 1.48% of the stock is owned by 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.