Leeward Investments LLC MA Lowers Position in Belden Inc. (NYSE:BDC)

Leeward Investments LLC MA decreased its position in shares of Belden Inc. (NYSE:BDC) by 4.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 69,255 shares of the industrial products company’s stock after selling 2,959 shares during the period. Leeward Investments LLC MA’s holdings in Belden were worth $6,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Belden in the first quarter worth $32,000. Quadrant Capital Group LLC grew its position in shares of Belden by 41.7% in the 4th 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 during the period. Principal Securities Inc. bought a new position in shares of Belden in the 4th quarter worth about $72,000. TFO Wealth Partners LLC lifted its position in Belden by 33,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares during the period. Finally, Blue Trust Inc. boosted its stake in Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Belden in a report on Monday, May 6th. Loop Capital raised their price objective 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. Truist Financial increased their target price on Belden from $119.00 to $123.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com raised Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Belden currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.80.

Insider Activity at Belden

In other news, Director Jonathan C. Klein sold 1,607 shares of the firm’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 transaction, the director now owns 12,097 shares in the company, valued at $1,176,917.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Belden news, Director Jonathan C. Klein sold 1,607 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 12,097 shares in the company, valued at approximately $1,176,917.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan C. Klein sold 1,093 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the sale, 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 ninety days, insiders sold 9,400 shares of company stock valued at $911,900. Corporate insiders own 1.59% of the company’s stock.

Belden Price Performance

NYSE:BDC traded up $0.47 during trading hours on Friday, hitting $92.77. 5,066 shares of the stock traded hands, compared to its average volume of 267,915. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 18.06 and a beta of 1.05. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $99.13. The stock has a 50 day moving average price of $93.06 and a 200 day moving average price of $85.80. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $514.27 million. During the same quarter in the prior year, the business posted $1.68 EPS. Belden’s revenue for the quarter was down 16.5% compared to the same quarter last year. Sell-side analysts forecast that Belden Inc. will post 5.77 EPS for the current fiscal 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 given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. Belden’s dividend payout ratio is 3.91%.

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.