Belden Inc $BDC Shares Acquired by Sei Investments Co.

Sei Investments Co. boosted its position in Belden Inc (NYSE:BDC) by 9.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 155,869 shares of the industrial products company’s stock after buying an additional 13,350 shares during the period. Sei Investments Co.’s holdings in Belden were worth $17,898,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BDC. Price T Rowe Associates Inc. MD grew its holdings in Belden by 25.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,225,244 shares of the industrial products company’s stock valued at $375,903,000 after purchasing an additional 663,241 shares during the last quarter. Norges Bank acquired a new position in Belden during the fourth quarter worth about $57,296,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Belden by 238,774.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 422,808 shares of the industrial products company’s stock valued at $49,278,000 after purchasing an additional 422,631 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Belden in the fourth quarter valued at approximately $43,097,000. Finally, Wellington Management Group LLP grew its position in shares of Belden by 15.0% in the fourth quarter. Wellington Management Group LLP now owns 1,685,750 shares of the industrial products company’s stock valued at $196,474,000 after purchasing an additional 219,695 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Stock Down 2.7%

BDC stock opened at $102.07 on Thursday. The company has a 50 day moving average price of $109.96 and a two-hundred day moving average price of $119.30. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 2.09. The stock has a market capitalization of $3.97 billion, a P/E ratio of 17.18 and a beta of 1.12. Belden Inc has a one year low of $98.00 and a one year high of $159.99.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.07. Belden had a return on equity of 24.47% and a net margin of 8.49%.The company had revenue of $696.38 million for the quarter, compared to analyst estimates of $677.03 million. During the same quarter in the prior year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Belden Inc will post 8.22 EPS for the current year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Tuesday, June 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. Belden’s payout ratio is currently 3.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BDC. Fox Advisors upgraded Belden from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Truist Financial raised their price target on Belden from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a report on Monday, July 20th. DA Davidson initiated coverage on Belden in a research report on Tuesday, June 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Citigroup began coverage on Belden in a research note on Friday, June 26th. They set a “buy” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $158.75.

Belden Company Profile

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.