Cornercap Investment Counsel Inc. Takes $499,000 Position in Belden Inc. (NYSE:BDC)

Cornercap Investment Counsel Inc. purchased a new stake in Belden Inc. (NYSE:BDC) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,457 shares of the industrial products company’s stock, valued at approximately $499,000.

A number of other institutional investors have also made changes to their positions in BDC. State of Alaska Department of Revenue grew its stake in Belden by 588.5% during the 4th quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 29,585 shares during the last quarter. Natixis Advisors L.P. grew its stake in Belden by 75.4% during the 3rd quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock worth $2,616,000 after buying an additional 11,651 shares during the last quarter. South Dakota Investment Council grew its stake in Belden by 22.4% during the 3rd quarter. South Dakota Investment Council now owns 53,634 shares of the industrial products company’s stock worth $5,178,000 after buying an additional 9,801 shares during the last quarter. Channing Capital Management LLC boosted its position in Belden by 7.6% during the 3rd quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock worth $68,552,000 after acquiring an additional 50,256 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Belden by 10.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 112,789 shares of the industrial products company’s stock worth $10,890,000 after acquiring an additional 10,626 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial boosted their price target on Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Belden Trading Down 0.3 %

Shares of Belden stock opened at $84.55 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 14.94 and a beta of 1.04. The business has a fifty day simple moving average of $86.86 and a 200-day simple moving average of $78.73. Belden Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $99.13.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.34. The business had revenue of $551.24 million during the quarter, compared to analyst estimates of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The company’s revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. On average, equities analysts forecast that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s dividend payout ratio is 3.53%.

Belden Company Profile

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.