Brucke Financial Inc. Acquires Shares of 3,418 Belden Inc. (NYSE:BDC)

Brucke Financial Inc. purchased a new position in Belden Inc. (NYSE:BDC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,418 shares of the industrial products company’s stock, valued at approximately $398,000.

Several other hedge funds have also recently made changes to their positions in BDC. Bank of America Corp DE grew its stake in shares of Belden by 234.7% in the 4th quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company’s stock worth $25,266,000 after buying an additional 157,335 shares in the last quarter. Norges Bank purchased a new stake in Belden during the fourth quarter valued at approximately $54,167,000. Polen Capital Management LLC acquired a new position in Belden during the 4th quarter valued at about $2,723,000. Dynamic Technology Lab Private Ltd acquired a new position in Belden during the 4th quarter valued at approximately $443,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Belden in the fourth quarter valued at about $387,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Down 1.8%

Shares of NYSE:BDC opened at $106.32 on Monday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 22.10 and a beta of 1.24. The stock’s 50-day moving average price is $101.54 and its two-hundred day moving average price is $110.58. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last released its quarterly earnings results 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 return on equity of 21.42% and a net margin of 8.06%. The firm had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same period in the previous year, the company posted $1.24 EPS. Belden’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, research analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, June 12th. Belden’s payout ratio is currently 3.86%.

Insiders Place Their Bets

In other Belden news, Director Jonathan C. Klein sold 2,129 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the transaction, the director now owns 9,968 shares in the company, valued at $1,096,480. This trade represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the transaction, the senior vice president now owns 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. This represents a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,724 shares of company stock worth $720,651. 1.48% of the stock is owned by insiders.

Analysts Set New Price Targets

BDC has been the topic of several analyst reports. Loop Capital dropped their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 14th. The Goldman Sachs Group decreased their target price on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Benchmark restated a “buy” rating and issued a $120.00 price objective on shares of Belden in a report on Monday, May 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $126.20.

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.