Matrix Trust Co Raises Stock Holdings in Belden Inc. (NYSE:BDC)

Matrix Trust Co grew its stake in Belden Inc. (NYSE:BDC) by 624.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,522 shares of the industrial products company’s stock after buying an additional 1,312 shares during the quarter. Matrix Trust Co’s holdings in Belden were worth $171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of 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 purchased a new stake in shares of Belden during the third quarter worth about $33,000. First Horizon Advisors Inc. grew its position in shares of Belden by 97.7% during the third 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 in the last quarter. KBC Group NV grew its position in shares of Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 274 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Belden by 72.3% during the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Price Performance

NYSE:BDC opened at $113.85 on Monday. 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 1 year low of $71.20 and a 1 year high of $131.82. The business has a 50 day simple moving average of $119.33 and a 200-day simple moving average of $109.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. The business 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 company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. Equities analysts forecast that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial raised 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden has an average rating of “Buy” and an average target price of $122.75.

Insider Buying and Selling

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 transaction of $386,460.00. Following the completion of the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at $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 is available at this hyperlink. 1.59% of the stock is owned by corporate insiders.

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.