Navellier & Associates Inc. Takes $227,000 Position in Belden Inc. (NYSE:BDC)

Navellier & Associates Inc. bought a new stake in Belden Inc. (NYSE:BDC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,014 shares of the industrial products company’s stock, valued at approximately $227,000.

A number of other large investors also recently modified their holdings of the stock. Principal Securities Inc. lifted its holdings in shares of Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Belden by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 148 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Belden by 7.4% in the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 193 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Belden by 0.6% in the third quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock valued at $4,068,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

BDC has been the topic of a number of recent research reports. Loop Capital dropped their target price on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Truist Financial lifted their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Belden in a report on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $130.25.

Insiders Place Their Bets

In other news, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.59% of the company’s stock.

Belden Stock Performance

NYSE:BDC opened at $111.41 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The business has a fifty day simple moving average of $115.53 and a two-hundred day simple moving average of $114.52. Belden Inc. has a 1 year low of $80.73 and a 1 year high of $131.82. The company has a market capitalization of $4.49 billion, a P/E ratio of 23.16 and a beta of 1.08.

Belden (NYSE:BDC) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, analysts expect that Belden Inc. will post 7.07 earnings per share for the current year.

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.