SG Americas Securities LLC Increases Position in Belden Inc. (NYSE:BDC)

SG Americas Securities LLC grew its stake in Belden Inc. (NYSE:BDC) by 22.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,787 shares of the industrial products company’s stock after acquiring an additional 7,769 shares during the quarter. SG Americas Securities LLC’s holdings in Belden were worth $4,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Securities Inc. increased 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 during the period. GAMMA Investing LLC grew its stake in Belden by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company’s stock worth $45,000 after buying an additional 115 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in 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 worth $257,000 after buying an additional 116 shares during the last quarter. Arizona State Retirement System grew its stake in Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock worth $1,334,000 after buying an additional 129 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in Belden by 4.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,802 shares of the industrial products company’s stock worth $316,000 after buying an additional 130 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $120.00 target price on shares of Belden in a research note on Monday, May 5th. The Goldman Sachs Group dropped their target price on Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has an average rating of “Buy” and an average target price of $126.20.

Belden Stock Down 3.1%

Belden stock opened at $107.39 on Friday. 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 simple moving average is $104.25 and its two-hundred day simple moving average is $109.38. The company has a market cap of $4.24 billion, a PE ratio of 22.33 and a beta of 1.23. 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 results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. Equities analysts anticipate that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

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

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the business’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 sale, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.48% of the company’s stock.

Belden Company 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.