Belden Inc. (NYSE:BDC) Shares Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its holdings in Belden Inc. (NYSE:BDC) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 708,092 shares of the industrial products company’s stock after purchasing an additional 68,151 shares during the quarter. Lord Abbett & CO. LLC owned 1.76% of Belden worth $82,939,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after buying an additional 576,768 shares during the last quarter. F M Investments LLC acquired a new position in Belden during the second quarter worth $12,659,000. Foundry Partners LLC acquired a new stake in shares of Belden in the third quarter valued at about $11,814,000. State Street Corp raised its holdings in Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Belden during the third quarter worth $82,320,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Price Performance

BDC opened at $121.00 on Friday. The company has a 50 day moving average of $120.64 and a two-hundred day moving average of $106.89. Belden Inc. has a 52-week low of $71.20 and a 52-week high of $131.82. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.88 billion, a P/E ratio of 28.14 and a beta of 1.08.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. The firm had revenue of $654.90 million for 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%. During the same period in the previous year, the company posted $1.78 EPS. Belden’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is 4.65%.

Insider Buying and Selling at Belden

In related news, CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the transaction, the chief accounting officer now directly owns 9,643 shares in the company, valued at $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Benchmark lifted their price objective on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial increased their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $122.75.

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.