Rhumbline Advisers Decreases Holdings in Belden Inc. (NYSE:BDC)

Rhumbline Advisers lessened its stake in shares of Belden Inc. (NYSE:BDC) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,977 shares of the industrial products company’s stock after selling 2,448 shares during the period. Rhumbline Advisers owned about 0.33% of Belden worth $14,862,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BDC. FMR LLC increased its holdings in Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after buying an additional 576,768 shares during the last quarter. Foundry Partners LLC purchased a new stake in Belden during the third quarter worth about $11,814,000. State Street Corp increased its holdings in Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after buying an additional 100,145 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Belden during the third quarter worth about $82,320,000. Finally, Lord Abbett & CO. LLC increased its holdings in Belden by 10.6% during the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after buying an additional 68,151 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Activity at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the sale, the senior vice president now directly owns 23,243 shares in the company, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on BDC. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Loop Capital reduced their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Truist Financial lifted their target price on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $130.25.

Belden Price Performance

Shares of NYSE:BDC opened at $111.41 on Friday. The company has a 50 day moving average of $115.53 and a 200 day moving average of $114.36. The stock has a market cap of $4.49 billion, a P/E ratio of 23.16 and a beta of 1.08. Belden Inc. has a 12 month low of $80.73 and a 12 month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, sell-side analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden 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.