Oppenheimer Asset Management Inc. Has $2.05 Million Position in Belden Inc. (NYSE:BDC)

Oppenheimer Asset Management Inc. increased its holdings in shares of Belden Inc. (NYSE:BDC) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,494 shares of the industrial products company’s stock after acquiring an additional 617 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Belden were worth $2,049,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its holdings in shares of Belden by 198.4% during the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after buying an additional 8,169 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after purchasing an additional 98,503 shares during the last quarter. Foster & Motley Inc. boosted its holdings in Belden by 25.3% in the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock valued at $4,530,000 after purchasing an additional 7,819 shares during the period. AdvisorShares Investments LLC acquired a new stake in Belden in the 2nd quarter worth $503,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Belden by 3.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock worth $2,816,000 after purchasing an additional 980 shares during the period. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BDC shares. Benchmark increased their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research assumed coverage on Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $122.75.

Belden Stock Down 1.0 %

Shares of BDC opened at $118.61 on Friday. Belden Inc. has a 12 month low of $65.52 and a 12 month high of $131.82. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 27.58 and a beta of 1.07. The company has a 50-day moving average price of $115.88 and a two-hundred day moving average price of $102.87. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last announced its quarterly 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. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the previous year, the firm earned $1.78 EPS. Belden’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio is currently 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.