Tidal Investments LLC Has $1.02 Million Stock Position in Belden Inc. (NYSE:BDC)

Tidal Investments LLC raised its position in shares of Belden Inc. (NYSE:BDC) by 5.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,742 shares of the industrial products company’s stock after purchasing an additional 426 shares during the quarter. Tidal Investments LLC’s holdings in Belden were worth $1,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of Belden in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its position in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. raised its position in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Belden in the 2nd quarter valued at about $95,000. Institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BDC shares. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark raised their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has an average rating of “Buy” and an average price target of $122.75.

Belden Stock Performance

Shares of BDC opened at $114.61 on Friday. Belden Inc. has a one year low of $71.20 and a one year high of $131.82. The company has a market cap of $4.62 billion, a PE ratio of 26.65 and a beta of 1.08. The stock has a 50-day moving average of $120.65 and a 200-day moving average of $107.50. 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 announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter last year, the firm posted $1.78 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

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

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction that occurred 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 approximately $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 accessible through this hyperlink. Insiders own 1.59% of the company’s stock.

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.