Harbor Capital Advisors Inc. Boosts Position in Belden Inc. (NYSE:BDC)

Harbor Capital Advisors Inc. lifted its position in Belden Inc. (NYSE:BDC) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,877 shares of the industrial products company’s stock after purchasing an additional 372 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.08% of Belden worth $3,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of Belden during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Prospera Private Wealth LLC acquired a new position in Belden in the third quarter valued at about $33,000. First Horizon Advisors Inc. boosted its position in shares of Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares during the period. Finally, KBC Group NV raised its position in Belden by 27.8% in the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 274 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Stock Down 1.8 %

BDC stock opened at $113.85 on Friday. The company’s 50 day moving average price is $119.36 and its 200 day moving average price is $109.47. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 26.48 and a beta of 1.09. 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 quick ratio of 1.43 and a current ratio of 2.07.

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

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were issued 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 dividend payout ratio (DPR) is 4.65%.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BDC has been the subject of a number of research analyst reports. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark lifted their price objective on shares of Belden from $120.00 to $130.00 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 data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.