Allspring Global Investments Holdings LLC Acquires 7,683 Shares of Belden Inc (NYSE:BDC)

Allspring Global Investments Holdings LLC lifted its stake in shares of Belden Inc (NYSE:BDC - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,043,510 shares of the industrial products company's stock after buying an additional 7,683 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.62% of Belden worth $105,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BDC. Fourth Dimension Wealth LLC bought a new position in shares of Belden in the first quarter valued at $117,000. Oppenheimer Asset Management Inc. grew its position in Belden by 1.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,899 shares of the industrial products company's stock valued at $1,794,000 after buying an additional 193 shares during the period. Nilsine Partners LLC raised its position in Belden by 4.9% in the first quarter. Nilsine Partners LLC now owns 36,573 shares of the industrial products company's stock worth $3,666,000 after acquiring an additional 1,694 shares during the period. Retirement Systems of Alabama grew its position in shares of Belden by 14.4% during the 1st quarter. Retirement Systems of Alabama now owns 203,940 shares of the industrial products company's stock valued at $20,445,000 after acquiring an additional 25,677 shares during the period. Finally, Blue Trust Inc. lifted its stake in Belden by 16.3% in the first quarter. Blue Trust Inc. now owns 1,802 shares of the industrial products company's stock valued at $181,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BDC. Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen cut shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, The Goldman Sachs Group cut their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden presently has an average rating of "Buy" and a consensus target price of $128.20.

Belden Trading Up 2.1%

NYSE BDC traded up $2.44 during trading on Wednesday, hitting $120.30. 109,454 shares of the company's stock traded hands, compared to its average volume of 270,661. The stock has a fifty day moving average of $108.81 and a two-hundred day moving average of $108.51. Belden Inc has a 12-month low of $83.18 and a 12-month high of $131.82. The firm has a market cap of $4.75 billion, a P/E ratio of 23.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.12. The business had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. Belden had a net margin of 8.35% and a return on equity of 22.28%. The company's revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. As a group, sell-side analysts expect that Belden Inc will post 7.07 EPS for the current year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden's dividend payout ratio is presently 3.86%.

Insider Buying and Selling

In other news, SVP Leah Tate sold 231 shares of Belden stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president owned 30,170 shares of the company's stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.48% of the stock is owned by insiders.

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.