Renaissance Group LLC Grows Stake in Belden Inc $BDC

Renaissance Group LLC lifted its holdings in shares of Belden Inc (NYSE:BDC) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 65,749 shares of the industrial products company’s stock after buying an additional 5,216 shares during the period. Renaissance Group LLC’s holdings in Belden were worth $7,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BDC. Verdence Capital Advisors LLC raised its holdings in Belden by 1.9% during the second quarter. Verdence Capital Advisors LLC now owns 4,223 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 78 shares in the last quarter. Arizona State Retirement System grew its position in shares of Belden by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 11,688 shares of the industrial products company’s stock valued at $1,406,000 after buying an additional 86 shares during the last quarter. Blue Trust Inc. raised its stake in Belden by 6.0% during the 3rd quarter. Blue Trust Inc. now owns 2,038 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 116 shares in the last quarter. Captrust Financial Advisors lifted its position in Belden by 3.8% in the second quarter. Captrust Financial Advisors now owns 3,904 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 142 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in Belden by 7.5% in the second quarter. Johnson Investment Counsel Inc. now owns 2,193 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 153 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Hiran Bhadra sold 1,600 shares of Belden stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $120.00, for a total value of $192,000.00. Following the sale, the senior vice president owned 26,119 shares of the company’s stock, valued at $3,134,280. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Doug Zink sold 1,452 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $133.96, for a total transaction of $194,509.92. Following the transaction, the chief accounting officer owned 4,642 shares in the company, valued at approximately $621,842.32. This trade represents a 23.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,045 shares of company stock worth $2,010,690 over the last quarter. Insiders own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BDC shares. Truist Financial lifted their target price on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Belden Trading Up 6.2%

NYSE:BDC opened at $139.90 on Friday. Belden Inc has a 12-month low of $83.18 and a 12-month high of $140.43. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. The stock’s 50 day simple moving average is $119.38 and its 200-day simple moving average is $120.73. The firm has a market cap of $5.50 billion, a P/E ratio of 24.85 and a beta of 1.20.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, December 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. Belden’s dividend payout ratio is presently 3.55%.

Belden Profile

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.