Vanguard Group Inc. Sells 66,978 Shares of Belden Inc. (NYSE:BDC)

Vanguard Group Inc. lessened its position in shares of Belden Inc. (NYSE:BDC) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm 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 0.11% of Belden worth $358,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its holdings in shares of Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Belden during the 4th quarter worth approximately $72,000. TFO Wealth Partners LLC raised its holdings in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 1,005 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 261 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its holdings in Belden by 20.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 2,692 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 458 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Trading Up 1.8 %

Belden stock opened at $93.80 on Friday. 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 stock has a 50-day simple moving average of $92.38 and a 200 day simple moving average of $85.33. The stock has a market capitalization of $3.82 billion, a P/E ratio of 18.36 and a beta of 1.09. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13.

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

Belden Dividend Announcement

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

Wall Street Analysts Forecast Growth

BDC has been the topic of several recent research reports. Loop Capital lifted their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Truist Financial reissued a “buy” rating and set a $119.00 price target (up from $101.00) on shares of Belden in a research report on Friday, June 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price target on shares of Belden in a research report on Monday, May 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

Insider Activity at Belden

In other Belden news, Director David J. Aldrich sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jonathan C. Klein sold 1,607 shares of Belden stock in a transaction on 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 of the company’s stock, valued at $1,176,917.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,400 shares of company stock worth $911,900. Insiders own 1.59% of the company’s stock.

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.