AlphaCrest Capital Management LLC Acquires 4,735 Shares of Belden Inc. (NYSE:BDC)

AlphaCrest Capital Management LLC increased its position in Belden Inc. (NYSE:BDC) by 77.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,813 shares of the industrial products company’s stock after buying an additional 4,735 shares during the period. AlphaCrest Capital Management LLC’s holdings in Belden were worth $547,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in Belden in the 2nd quarter worth $51,000. Advisor Group Holdings Inc. boosted its holdings in shares of Belden by 62.9% during the 2nd quarter. Advisor Group Holdings Inc. now owns 992 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 383 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Belden by 32.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,227 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 302 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Belden by 56,680.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,839 shares of the industrial products company’s stock valued at $144,000 after purchasing an additional 2,834 shares during the last quarter. Finally, Ergoteles LLC bought a new position in shares of Belden during the 2nd quarter valued at about $210,000. 98.29% of the stock is owned by institutional investors.

Shares of NYSE:BDC opened at $60.45 on Thursday. The firm has a market cap of $2.71 billion, a PE ratio of 28.25 and a beta of 1.47. The firm’s 50 day simple moving average is $57.01 and its 200-day simple moving average is $51.60. Belden Inc. has a one year low of $30.14 and a one year high of $61.26. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.48 and a current ratio of 2.00.

Belden (NYSE:BDC) last issued its earnings results on Tuesday, August 3rd. The industrial products company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.28. The business had revenue of $602.00 million for the quarter, compared to analyst estimates of $541.38 million. Belden had a net margin of 4.56% and a return on equity of 20.75%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts predict that Belden Inc. will post 4.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 6th. Stockholders of record on Wednesday, September 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Tuesday, September 14th. Belden’s dividend payout ratio (DPR) is presently 7.27%.

In related news, EVP Ashish Chand purchased 4,345 shares of the firm’s stock in a transaction on Monday, September 13th. The stock was acquired at an average price of $57.42 per share, with a total value of $249,489.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roel Vestjens sold 7,013 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $52.52, for a total transaction of $368,322.76. Following the completion of the transaction, the chief executive officer now directly owns 54,655 shares of the company’s stock, valued at approximately $2,870,480.60. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Several research firms have commented on BDC. Canaccord Genuity raised shares of Belden from a “hold” rating to a “buy” rating and increased their price objective for the company from $53.00 to $68.00 in a report on Thursday, September 9th. Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research report on Monday, August 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Belden from $39.00 to $46.00 and gave the stock a “sell” rating in a research report on Friday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $57.20.

Belden Company Profile

Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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