Twinbeech Capital LP Purchases New Holdings in Belden Inc. (NYSE:BDC)

Twinbeech Capital LP purchased a new stake in Belden Inc. (NYSE:BDC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,377 shares of the industrial products company’s stock, valued at approximately $5,110,000. Twinbeech Capital LP owned 0.11% of Belden as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in Belden during the 4th quarter worth approximately $26,000. Quarry LP increased its position in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 265 shares during the period. First Horizon Advisors Inc. increased its position in Belden by 49.9% during the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 211 shares during the period. Parkside Financial Bank & Trust increased its position in Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 199 shares during the period. Finally, Principal Securities Inc. increased its position in Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BDC shares. The Goldman Sachs Group decreased their price target on Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Benchmark reissued a “buy” rating and set a $120.00 price target on shares of Belden in a research note on Monday, May 5th. StockNews.com lowered Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 14th. Finally, Loop Capital decreased their price target on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $126.20.

Belden Price Performance

BDC stock opened at $111.40 on Wednesday. Belden Inc. has a 1 year low of $83.18 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The stock’s 50 day moving average price is $101.23 and its 200 day moving average price is $110.99. The firm has a market cap of $4.40 billion, a P/E ratio of 23.16 and a beta of 1.24.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12. Belden had a return on equity of 21.42% and a net margin of 8.06%. The firm had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the prior year, the company earned $1.24 EPS. Belden’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts expect that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were paid 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, March 13th. Belden’s payout ratio is currently 3.86%.

Insider Activity at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the transaction, the senior vice president now owns 30,170 shares of the company’s stock, valued at $3,428,518.80. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gregory James Mccray sold 4,200 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now directly owns 4,199 shares in the company, valued at approximately $441,776.79. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,259 shares of company stock valued at $2,340,577. 1.48% of the stock is owned by corporate insiders.

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.