Sei Investments Co. Boosts Holdings in Belden Inc $BDC

Sei Investments Co. boosted its stake in Belden Inc (NYSE:BDC) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,869 shares of the industrial products company’s stock after acquiring an additional 13,350 shares during the period. Sei Investments Co. owned about 0.40% of Belden worth $17,898,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BDC. Crossmark Global Holdings Inc. boosted its position in shares of Belden by 4.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,290 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 100 shares during the period. PNC Financial Services Group Inc. lifted its stake in Belden by 10.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,127 shares of the industrial products company’s stock valued at $129,000 after buying an additional 102 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Belden by 32.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 437 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 106 shares during the period. Captrust Financial Advisors raised its position in Belden by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,904 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 142 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in Belden by 2.1% during the 3rd quarter. Vise Technologies Inc. now owns 7,058 shares of the industrial products company’s stock worth $849,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Belden from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Fox Advisors upgraded shares of Belden from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Citigroup started coverage on Belden in a research report on Friday, June 26th. They issued a “buy” rating and a $150.00 price target on the stock. Finally, Weiss Ratings raised Belden from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $158.75.

Belden Stock Down 2.7%

Shares of Belden stock opened at $102.07 on Thursday. Belden Inc has a one year low of $98.00 and a one year high of $159.99. The company has a market cap of $3.97 billion, a P/E ratio of 17.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 2.09. The firm has a fifty day moving average of $109.96 and a two-hundred day moving average of $119.30.

Belden (NYSE:BDC) last issued its earnings results on Thursday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.07. Belden had a net margin of 8.49% and a return on equity of 24.47%. The business had revenue of $696.38 million for the quarter, compared to the consensus estimate of $677.03 million. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts forecast that Belden Inc will post 8.22 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Tuesday, June 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Belden’s payout ratio is currently 3.37%.

About Belden

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.