Matrix Trust Co Boosts Stock Holdings in Belden Inc. (NYSE:BDC)

Matrix Trust Co increased its position in shares of Belden Inc. (NYSE:BDC) by 51.9% in the 1st quarter, HoldingsChannel reports. The firm owned 2,312 shares of the industrial products company’s stock after purchasing an additional 790 shares during the period. Matrix Trust Co’s holdings in Belden were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new stake in shares of Belden during the 4th quarter valued at approximately $270,000. Principal Securities Inc. lifted its position in shares of Belden by 9.6% during 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 during the period. Principal Financial Group Inc. lifted its position in shares of Belden by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 107,967 shares of the industrial products company’s stock valued at $12,158,000 after acquiring an additional 307 shares during the period. Navellier & Associates Inc. purchased a new position in shares of Belden during the 4th quarter worth approximately $227,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Belden by 49.9% during the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 211 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Down 0.1%

Shares of Belden stock opened at $108.23 on Thursday. The company has a fifty day moving average price of $102.06 and a 200 day moving average price of $109.89. 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 Inc. has a twelve month low of $83.18 and a twelve month high of $131.82. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 22.50 and a beta of 1.23.

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

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be issued a $0.05 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden’s dividend payout ratio is currently 3.86%.

Insiders Place Their Bets

In other news, SVP Leah Tate sold 231 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Loop Capital dropped their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $120.00 price objective on shares of Belden in a research note on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen cut shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.