Principal Financial Group Inc. boosted its holdings in shares of Belden Inc. (NYSE:BDC – Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,098 shares of the industrial products company’s stock after acquiring an additional 977 shares during the quarter. Principal Financial Group Inc. owned 0.40% of Belden worth $12,986,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. South Dakota Investment Council grew its stake in shares of Belden by 20.5% in the fourth quarter. South Dakota Investment Council now owns 64,634 shares of the industrial products company’s stock worth $4,993,000 after purchasing an additional 11,000 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Belden by 588.5% in the fourth quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock valued at $2,673,000 after buying an additional 29,585 shares during the period. Duality Advisers LP bought a new position in shares of Belden during the fourth quarter worth about $1,733,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Belden by 41.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 37,671 shares of the industrial products company’s stock worth $2,910,000 after acquiring an additional 10,975 shares during the period. Finally, Natixis Advisors L.P. boosted its holdings in Belden by 75.4% in the third quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock valued at $2,616,000 after acquiring an additional 11,651 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Loop Capital raised their price target on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial boosted their target price on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday, May 3rd. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Belden in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.
Check Out Our Latest Stock Report on BDCBelden Price Performance
Shares of NYSE BDC opened at $97.63 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average price is $89.13 and its 200-day moving average price is $80.64. The firm has a market capitalization of $3.97 billion, a P/E ratio of 19.11 and a beta of 1.07. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $99.13.
Belden (NYSE:BDC – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. Equities research analysts anticipate that Belden Inc. will post 5.77 earnings per share for the current fiscal year.
Belden Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 0.20%. Belden’s payout ratio is 3.91%.
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.
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Principal Financial Group Inc. Acquires 977 Shares of Belden Inc. (NYSE:BDC) - Defense World
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