Belden Inc. (NYSE:BDC) Shares Sold by Marion Wealth Management

Marion Wealth Management lowered its position in shares of Belden Inc. (NYSE:BDC) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,500 shares of the industrial products company’s stock after selling 1,000 shares during the period. Marion Wealth Management’s holdings in Belden were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BDC. Los Angeles Capital Management LLC purchased a new stake in Belden during the 3rd quarter worth approximately $608,000. GSA Capital Partners LLP bought a new stake in shares of Belden in the third quarter worth $687,000. Citigroup Inc. raised its holdings in Belden by 157.5% in the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company’s stock valued at $3,801,000 after acquiring an additional 19,849 shares in the last quarter. Geode Capital Management LLC raised its holdings in Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after acquiring an additional 5,727 shares in the last quarter. Finally, Foster & Motley Inc. boosted its stake in Belden by 25.3% during the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock valued at $4,530,000 after acquiring an additional 7,819 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

Shares of NYSE BDC traded up $0.39 during midday trading on Monday, hitting $114.10. The company’s stock had a trading volume of 192,247 shares, compared to its average volume of 222,821. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. Belden Inc. has a 1-year low of $71.20 and a 1-year high of $131.82. The firm’s fifty day moving average price is $119.33 and its 200-day moving average price is $109.84. The firm has a market cap of $4.60 billion, a P/E ratio of 26.53 and a beta of 1.09.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. On average, sell-side analysts forecast that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Thursday, December 12th. Belden’s payout ratio is 4.65%.

Insider Activity

In related news, CAO Doug Zink sold 1,324 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at $1,132,956.07. This represents a 12.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark upped their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has a consensus rating of “Buy” and an average target price of $122.75.

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.