Pacer Advisors Inc., a prominent investment management firm, has reported a significant increase in its holdings of Belden Inc. during the second quarter of this year. According to the company’s recent filing with the Securities and Exchange Commission (SEC), Pacer Advisors Inc. recorded an astonishing surge of 24,367.7% in its ownership of Belden shares. The fund now possesses 7,585 shares of the industrial products company’s stock, having acquired an additional 7,554 shares during the quarter. These holdings are valued at $726,000 as per the most recent SEC filing.
Alongside these impressive statistics, Belden Inc. has announced its upcoming quarterly dividend payment which is scheduled for Thursday, October 5th. Shareholders listed on record as of Wednesday, September 13th will receive a dividend of $0.05 per share. This equates to a $0.20 dividend on an annual basis with a yield of 0.21%. It is important to note that the ex-dividend date for this payout is Tuesday, September 12th.
As it stands today, Belden’s dividend payout ratio sits at approximately 2.99%. This ratio reflects the proportion of earnings that are distributed among shareholders in the form of dividends. By maintaining a moderate ratio like this one, Belden aims to balance its obligation towards rewarding shareholders while also retaining sufficient funds for reinvestment opportunities and future growth initiatives.
Belden Inc., known for its expertise in manufacturing connectivity and networking solutions for various industries including industrial automation and cybersecurity, continues to attract investors’ attention due to its consistent performance and commitment to shareholder value creation.
Investors are keenly observing companies such as Belden Inc., seeking stable returns in uncertain economic times when traditional investment avenues may not be yielding desired results. Companies with strong fundamentals and proactive approaches towards enhancing shareholder wealth have become increasingly appealing to investors looking for long-term stability and growth. Belden’s commitment to paying regular dividends showcases its dedication to providing consistent returns to its shareholders, making it an attractive investment option for income-focused investors.
As of September 30, 2023, Pacer Advisors Inc.’s increased holdings in Belden Inc. indicate their positive stance on the industrial products company. Furthermore, Belden’s upcoming dividend payment reaffirms its commitment to rewarding shareholders and maintaining a balanced approach towards capital allocation.
In conclusion, Pacer Advisors Inc.’s notable surge in its holdings reflects the growing interest in Belden Inc. as a strategic investment option. The upcoming dividend payment further solidifies Belden’s reputation as a company focused on delivering value to its shareholders. As investors seek stability and reliable income streams in today’s market environment, companies like Belden continue to present attractive prospects for those looking for long-term growth opportunities.
Belden Inc.
BDC
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Belden Inc. Experiences Increased Ownership by Hedge Funds and Institutional Investors, Prompting Market Intrigue
Belden Inc., a leading industrial products company, has seen significant changes in its ownership as several hedge funds and institutional investors have modified their holdings of the business. Envestnet Asset Management Inc., for instance, raised its holdings in Belden by an astonishing 1,283.9% during the first quarter, now owning 488,729 shares of the company’s stock worth approximately $3.4 million.
Similarly, Norges Bank entered the scene during the fourth quarter by acquiring a new stake in Belden valued at around $30.8 million. BlackRock Inc., one of the largest asset management firms globally, also increased its holdings in Belden by 8.0%, which translates to owning 5,317,303 shares worth $461.4 million.
Ceredex Value Advisors LLC also acquired a new stake in Belden during the first quarter worth around $16 million. Finally, Macquarie Group Ltd., with a sizeable 76.0% increase in its holdings during the same period, now owns 428,491 shares valued at approximately $37.2 million.
The influx of hedge fund and institutional investor ownership has undoubtedly created intrigue around Belden’s prospects within the market. The fact that 99.16% of the stock is owned by such entities denotes heightened confidence and interest from professional investors.
This surge in interest has not gone unnoticed by research firms either. Several research firms have issued reports on BDC (Belden’s stock symbol). UBS Group initiated coverage on Belden with a “buy” rating and set a price target of $115 per share. StockNews.com downgraded Belden from a “strong-buy” rating to just “buy,” but still maintained optimism for the stock.
Truist Financial endorsed this positive sentiment and increased their price target for Belden from $107 to $118 while labeling it as a “buy.” Lastly, The Goldman Sachs Group upgraded Belden from a “neutral” rating to “buy” and raised their price target from $93 to $117. With these ratings, it seems that analysts generally foresee favorable prospects for the industrial products company.
Bloomberg.com also reports that Belden’s average rating is classified as “Moderate Buy,” with an average target price of $109. This suggests that despite being considered a “buy,” there is still some degree of perplexity among experts regarding Belden’s stock performance.
On September 29, 2023, Belden’s stock opened at $96.55. The company has witnessed a fifty-day simple moving average of $92.44 and a two-hundred-day simple moving average of $89.04, indicating relatively stable movements in the stock price over the past few months.
As for its financial health, Belden boasts a quick ratio of 1.92 and a current ratio of 2.53, indicating its ability to meet short-term financing needs and outstanding obligations efficiently. Moreover, an analysis of its debt-to-equity ratio reveals healthy financial leverage with a value of 1.02.
The market capitalization of Belden currently stands at an impressive $4.08 billion, aligning with its status as one of the leading players within the industrial products sector.
Looking back at its most recent quarterly earnings report on August 3rd, Belden reported earnings per share (EPS) of $1.91, surpassing analysts’ consensus estimates by $0.16 per share. The firm achieved revenue totaling $692.25 million during this period against analysts’ expectations of approximately $687.49 million.
Belden demonstrated consistent growth compared to the previous year, with revenue increasing by 3.9%. Additionally, the company exhibited promising profitability indicators, including a net margin of 10.97% and an impressive return on equity (ROE) percentage standing at 27.11%.
Analysts on the sell-side anticipate that Belden Inc. will deliver earnings per share (EPS) of 7.27 for the current fiscal year, further bolstering confidence in the company’s financial performance.
In conclusion, Belden Inc.’s recent surge in ownership by hedge funds and institutional investors has prompted intrigue within the market. The overwhelming majority stake held by these professional entities showcases a high degree of confidence in the company’s potential.
Furthermore, research firms have issued optimistic ratings for Belden’s stock, with analysts expecting positive growth in its value and target price. As Belden continues to exhibit strong financial performance and secure new partnerships with reputable investors, it appears to be well-positioned for continued success within the industrial products sector.
Reference Date: September 30, 2023
Discussion about this post