Peapack Gladstone Financial Corp Makes New Investment in Belden Inc. (NYSE:BDC)

Peapack Gladstone Financial Corp purchased a new position in shares of Belden Inc. (NYSE:BDC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,076 shares of the industrial products company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Matrix Trust Co acquired a new position in Belden in the third quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 117 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Belden in the 3rd quarter valued at about $33,000. First Horizon Advisors Inc. grew its stake in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares during the period. Finally, Innealta Capital LLC bought a new stake in Belden in the second quarter worth approximately $95,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark boosted their price target on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $122.75.

Insider Transactions at Belden

In related news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at approximately $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.59% of the company’s stock.

Belden Trading Up 2.1 %

NYSE:BDC opened at $123.50 on Tuesday. The company has a market cap of $4.98 billion, a P/E ratio of 28.72 and a beta of 1.08. Belden Inc. has a 1 year low of $71.20 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The stock’s fifty day moving average price is $120.76 and its two-hundred day moving average price is $107.25.

Belden (NYSE:BDC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter last year, the company earned $1.78 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts expect that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. Belden’s dividend payout ratio (DPR) is currently 4.65%.

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.