Legacy Financial Advisors Inc. Takes $249,000 Position in Belden Inc. (NYSE:BDC)

Legacy Financial Advisors Inc. acquired a new position in Belden Inc. (NYSE:BDC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,226 shares of the industrial products company’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of Belden by 12.2% in the 3rd quarter. Raymond James & Associates now owns 23,476 shares of the industrial products company’s stock worth $2,267,000 after purchasing an additional 2,553 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Belden by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock worth $79,216,000 after buying an additional 111,232 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Belden by 24.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,959 shares of the industrial products company’s stock worth $672,000 after buying an additional 1,349 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Belden by 49.4% during the 3rd quarter. Mackenzie Financial Corp now owns 13,435 shares of the industrial products company’s stock valued at $1,255,000 after acquiring an additional 4,440 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Belden by 10.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,283 shares of the industrial products company’s stock valued at $1,862,000 after acquiring an additional 1,808 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Belden Stock Performance

BDC stock traded down $0.68 during midday trading on Friday, reaching $88.23. 278,817 shares of the company’s stock traded hands, compared to its average volume of 234,599. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13. The stock has a market cap of $3.59 billion, a P/E ratio of 17.27 and a beta of 1.07. The stock’s 50-day moving average is $87.12 and its 200 day moving average is $78.23.

Belden (NYSE:BDC) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same period last year, the firm earned $1.68 EPS. Belden’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, analysts anticipate that Belden Inc. will post 5.77 EPS for the current year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial increased their price target on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Belden currently has an average rating of “Moderate Buy” and an average price target of $103.00.

Insider Buying and Selling

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.59% of the stock is currently owned by 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.