Allianz Asset Management GmbH Has $4.44 Million Stock Holdings in Belden Inc (NYSE:BDC)

Allianz Asset Management GmbH boosted its stake in shares of Belden Inc (NYSE:BDC - Free Report) by 77.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,274 shares of the industrial products company's stock after purchasing an additional 19,363 shares during the period. Allianz Asset Management GmbH owned 0.11% of Belden worth $4,438,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BDC. KLP Kapitalforvaltning AS acquired a new position in Belden during the fourth quarter valued at approximately $969,000. LPL Financial LLC boosted its position in Belden by 27.3% during the fourth quarter. LPL Financial LLC now owns 4,806 shares of the industrial products company's stock valued at $541,000 after purchasing an additional 1,032 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Belden by 61.2% during the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock valued at $33,212,000 after purchasing an additional 111,952 shares during the last quarter. Norges Bank acquired a new position in Belden during the fourth quarter valued at approximately $54,167,000. Finally, Pictet Asset Management Holding SA boosted its position in Belden by 13.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,904 shares of the industrial products company's stock valued at $665,000 after purchasing an additional 690 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Belden

In related news, SVP Leah Tate sold 231 shares of Belden stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the sale, the senior vice president directly owned 30,170 shares of the company's stock, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian Edward Anderson sold 7,158 shares of Belden stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $130.51, for a total value of $934,190.58. Following the sale, the senior vice president directly owned 39,574 shares of the company's stock, valued at approximately $5,164,802.74. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.48% of the company's stock.

Belden Stock Performance

BDC opened at $129.82 on Tuesday. Belden Inc has a 12-month low of $83.18 and a 12-month high of $131.82. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 25.06 and a beta of 1.24. The business has a 50 day moving average of $115.87 and a 200-day moving average of $109.78. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. On average, equities research analysts expect that Belden Inc will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Thursday, June 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.15%. Belden's payout ratio is currently 3.86%.

Analyst Upgrades and Downgrades

BDC has been the subject of several recent research reports. Wall Street Zen raised Belden from a "buy" rating to a "strong-buy" rating in a research report on Saturday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Belden in a research report on Friday, July 11th. Finally, Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Belden presently has a consensus rating of "Buy" and a consensus price target of $132.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.