Hennion & Walsh Asset Management Inc. Raises Position in Belden Inc. (NYSE:BDC)

Hennion & Walsh Asset Management Inc. grew its stake in Belden Inc. (NYSE:BDC) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,042 shares of the industrial products company’s stock after purchasing an additional 5,306 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.07% of Belden worth $2,690,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BDC. Rise Advisors LLC purchased a new stake in Belden in the 1st quarter valued at $32,000. Quadrant Capital Group LLC grew its holdings in shares of Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Belden during the fourth quarter valued at approximately $72,000. TFO Wealth Partners LLC lifted its holdings in Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 1,005 shares during the period. Finally, Blue Trust Inc. boosted its position in Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the transaction, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the transaction, the director now directly owns 53,396 shares in the company, valued at approximately $5,189,557.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total value of $104,381.50. Following the transaction, the director now directly owns 13,704 shares in the company, valued at $1,308,732. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock worth $911,900 over the last three months. 1.59% of the stock is owned by insiders.

Analyst Ratings Changes

BDC has been the topic of a number of recent analyst reports. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Loop Capital raised their price objective on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Benchmark restated a “buy” rating and set a $100.00 target price on shares of Belden in a research report on Monday, May 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $119.00 price target (up from $101.00) on shares of Belden in a research report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Belden Price Performance

NYSE:BDC traded up $1.67 during trading hours on Friday, hitting $93.80. The stock had a trading volume of 628,130 shares, compared to its average volume of 291,878. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 18.36 and a beta of 1.09. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The company has a 50 day simple moving average of $92.38 and a two-hundred day simple moving average of $85.33. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. During the same quarter last year, the company earned $1.68 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. Research analysts forecast that Belden Inc. will post 5.77 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s dividend payout ratio is currently 3.91%.

Belden 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.