Foster & Motley Inc. Has $2.89 Million Holdings in Belden Inc. (NYSE:BDC)

Foster & Motley Inc. boosted its stake in Belden Inc. (NYSE:BDC) by 3.9% in the second quarter, HoldingsChannel reports. The firm owned 30,856 shares of the industrial products company’s stock after acquiring an additional 1,163 shares during the period. Foster & Motley Inc.’s holdings in Belden were worth $2,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BDC. Russell Investments Group Ltd. increased its stake in shares of Belden by 6.5% in the 4th quarter. Russell Investments Group Ltd. now owns 7,096 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 435 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Belden by 14.0% in the fourth quarter. Natixis Advisors L.P. now owns 30,884 shares of the industrial products company’s stock worth $2,385,000 after purchasing an additional 3,786 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Belden by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 495,693 shares of the industrial products company’s stock worth $38,292,000 after purchasing an additional 7,827 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Belden in the 4th quarter valued at $72,000. Finally, NBC Securities Inc. increased its position in shares of Belden by 61.0% in the 4th quarter. NBC Securities Inc. now owns 7,198 shares of the industrial products company’s stock valued at $556,000 after buying an additional 2,727 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the sale, the executive vice president now owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The disclosure for this sale can be found here. Insiders sold a total of 12,744 shares of company stock worth $1,251,802 over the last ninety days. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Benchmark boosted their price objective on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial raised their target price on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Loop Capital upped their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Vertical Research began coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Belden currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Belden Trading Down 0.3 %

NYSE:BDC opened at $102.19 on Friday. The company has a market cap of $4.16 billion, a P/E ratio of 20.00 and a beta of 1.06. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $108.64. The business has a 50 day moving average price of $97.50 and a two-hundred day moving average price of $92.54. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last released its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. During the same quarter last year, the firm earned $1.91 earnings per share. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.20%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

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.