Belden Inc. (NYSE:BDC) Holdings Lifted by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in shares of Belden Inc. (NYSE:BDC) by 10.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 708,092 shares of the industrial products company’s stock after purchasing an additional 68,151 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Belden were worth $82,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in Belden during the 3rd quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 117 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden in the third quarter worth approximately $33,000. First Horizon Advisors Inc. boosted its stake in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Belden during the 2nd quarter valued at $95,000. Institutional investors own 98.75% of the company’s stock.

Insider Activity

In other Belden news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is owned by insiders.

Analysts Set New Price Targets

BDC has been the subject of several research analyst reports. Benchmark upped their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $122.75.

Belden Trading Down 1.5 %

NYSE:BDC opened at $121.00 on Friday. The stock has a market cap of $4.88 billion, a PE ratio of 28.14 and a beta of 1.08. Belden Inc. has a fifty-two week low of $71.20 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The stock’s 50-day moving average is $120.64 and its two-hundred day moving average is $106.89.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million for the quarter, compared to the consensus estimate of $643.63 million. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s dividend payout ratio (DPR) is 4.65%.

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.