Belden Inc. (NYSE:BDC) Holdings Lowered by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Belden Inc. (NYSE:BDC) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,647,224 shares of the industrial products company’s stock after selling 66,978 shares during the period. Vanguard Group Inc. owned approximately 11.31% of Belden worth $358,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its position in Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after acquiring an additional 149,263 shares in the last quarter. Gendell Jeffrey L lifted its stake in Belden by 59.0% during the fourth quarter. Gendell Jeffrey L now owns 53,882 shares of the industrial products company’s stock valued at $4,162,000 after purchasing an additional 20,000 shares during the last quarter. Southernsun Asset Management LLC boosted its holdings in Belden by 15.3% during the fourth quarter. Southernsun Asset Management LLC now owns 534,618 shares of the industrial products company’s stock worth $41,299,000 after buying an additional 71,118 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Belden by 13.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock worth $47,245,000 after buying an additional 72,775 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of Belden in the fourth quarter valued at $4,445,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

BDC stock opened at $93.80 on Friday. The stock has a market cap of $3.82 billion, a P/E ratio of 18.36 and a beta of 1.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. The firm has a 50 day simple moving average of $92.38 and a 200 day simple moving average of $85.33. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same period in the previous year, the company posted $1.68 EPS. Belden’s revenue was down 16.5% on a year-over-year basis. Research analysts anticipate that Belden Inc. will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. Belden’s payout ratio is 3.91%.

Insider Buying and Selling

In other Belden news, Director Jonathan C. Klein sold 1,093 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total value of $104,381.50. Following the completion of the sale, the director now directly owns 13,704 shares of the company’s stock, valued at $1,308,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the completion of the sale, the director now owns 12,097 shares in the company, valued at approximately $1,176,917.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total value of $104,381.50. Following the completion of the transaction, the director now directly owns 13,704 shares in the company, valued at $1,308,732. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,400 shares of company stock worth $911,900. Insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

BDC has been the topic of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $119.00 target price (up from $101.00) on shares of Belden in a report on Friday, June 14th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Belden in a research report on Monday, May 6th. Finally, Loop Capital upped their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

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.