Howe & Rusling Inc. Buys 676 Shares of Belden Inc. (NYSE:BDC)

Howe & Rusling Inc. lifted its stake in shares of Belden Inc. (NYSE:BDC) by 19.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,078 shares of the industrial products company’s stock after acquiring an additional 676 shares during the period. Howe & Rusling Inc.’s holdings in Belden were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. South Dakota Investment Council increased its stake in shares of Belden by 20.5% during the 4th quarter. South Dakota Investment Council now owns 64,634 shares of the industrial products company’s stock worth $4,993,000 after purchasing an additional 11,000 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Belden by 588.5% during the 4th quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 29,585 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Belden during the 4th quarter worth approximately $1,733,000. State of New Jersey Common Pension Fund D increased its stake in shares of Belden by 41.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 37,671 shares of the industrial products company’s stock worth $2,910,000 after purchasing an additional 10,975 shares during the last quarter. Finally, Natixis Advisors L.P. grew its stake in Belden by 75.4% in the 3rd quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock valued at $2,616,000 after buying an additional 11,651 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC opened at $88.00 on Thursday. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The company has a market capitalization of $3.58 billion, a P/E ratio of 14.37 and a beta of 1.07. The company has a fifty day moving average of $86.91 and a 200-day moving average of $78.05.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The company had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. During the same period in the previous year, the firm posted $1.75 EPS. The firm’s revenue was down 16.4% compared to the same quarter last year. As a group, equities research analysts predict that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. Belden’s dividend payout ratio is presently 3.53%.

Wall Street Analyst Weigh In

Several brokerages have commented on BDC. StockNews.com downgraded shares of Belden from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Truist Financial raised their price target on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Insider Buying and Selling at Belden

In other news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.59% of the stock is owned by corporate insiders.

About Belden

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.