CANADA LIFE ASSURANCE Co Sells 6,830 Shares of Belden Inc. (NYSE:BDC)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,001 shares of the industrial products company's stock after selling 6,830 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Belden worth $4,051,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its position in Belden by 5.0% in the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after acquiring an additional 223,887 shares during the period. Lord Abbett & CO. LLC increased its holdings in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after purchasing an additional 68,151 shares during the period. Norges Bank bought a new position in Belden during the 4th quarter worth $54,167,000. JPMorgan Chase & Co. lifted its holdings in Belden by 61.2% during the 4th quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock worth $33,212,000 after buying an additional 111,952 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Belden by 2.8% in the 4th quarter. Renaissance Technologies LLC now owns 277,555 shares of the industrial products company's stock valued at $31,255,000 after buying an additional 7,600 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BDC has been the topic of a number of recent analyst reports. Benchmark cut their price objective on Belden from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group reduced their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Loop Capital lowered 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. Finally, StockNews.com lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Tuesday, April 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $126.20.

Insider Transactions at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the sale, the chief executive officer now directly owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the transaction, the director now owns 4,199 shares in the company, valued at $441,776.79. This represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock valued at $2,589,774 over the last ninety days. 1.48% of the stock is owned by company insiders.

Belden Trading Up 0.2 %

Shares of NYSE:BDC traded up $0.21 during mid-day trading on Wednesday, hitting $102.96. The company had a trading volume of 367,272 shares, compared to its average volume of 274,185. The company has a market capitalization of $4.09 billion, a PE ratio of 21.41 and a beta of 1.07. Belden Inc. has a one year low of $81.02 and a one year high of $131.82. The firm has a fifty day moving average price of $100.33 and a 200 day moving average price of $111.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share 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, research analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden's dividend payout ratio is 4.16%.

About Belden

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.