Verdence Capital Advisors LLC Invests $291,000 in Belden Inc. (NYSE:BDC)

Verdence Capital Advisors LLC bought a new position in shares of Belden Inc. (NYSE:BDC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,769 shares of the industrial products company’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in Belden by 3.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock valued at $415,000 after buying an additional 158 shares during the period. Arizona State Retirement System raised its position in Belden by 1.4% during the third quarter. Arizona State Retirement System now owns 12,115 shares of the industrial products company’s stock valued at $1,170,000 after buying an additional 169 shares during the period. Parkside Financial Bank & Trust raised its position in Belden by 15.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock valued at $153,000 after buying an additional 209 shares during the period. Blue Trust Inc. raised its position in Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after buying an additional 261 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its position in Belden by 0.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 50,654 shares of the industrial products company’s stock valued at $4,891,000 after buying an additional 301 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BDC. Truist Financial upped their price target on Belden from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com lowered Belden from a “buy” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.25.

Insider Transactions at Belden

In other news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Belden Stock Performance

Shares of NYSE BDC opened at $84.30 on Wednesday. The business’s 50-day moving average price is $86.92 and its two-hundred day moving average price is $78.31. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The company has a market capitalization of $3.43 billion, a P/E ratio of 14.89 and a beta of 1.04.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.34. Belden had a return on equity of 25.11% and a net margin of 9.66%. The firm had revenue of $551.24 million for the quarter, compared to the consensus estimate of $522.06 million. During the same quarter in the previous year, the company posted $1.75 earnings per share. The business’s quarterly revenue was down 16.4% compared to the same quarter last year. Analysts anticipate that Belden Inc. will post 5.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Belden’s dividend payout ratio (DPR) is presently 3.53%.

Belden Company 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.