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

Allspring Global Investments Holdings LLC lifted its position in shares of Belden Inc (NYSE:BDC - Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,043,510 shares of the industrial products company's stock after acquiring an additional 7,683 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.62% of Belden worth $105,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in Belden by 234.7% during the 4th quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock worth $25,266,000 after purchasing an additional 157,335 shares in the last quarter. Norges Bank acquired a new position in Belden during the 4th quarter worth approximately $54,167,000. Polen Capital Management LLC acquired a new position in Belden during the 4th quarter worth approximately $2,723,000. Lighthouse Investment Partners LLC acquired a new position in Belden during the 4th quarter worth approximately $1,126,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Belden during the 4th quarter worth approximately $443,000. Institutional investors own 98.75% of the company's stock.

Insider Transactions at Belden

In other news, SVP Leah Tate sold 231 shares of the stock in a transaction on Wednesday, May 14th. The shares were 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 now directly owns 30,170 shares in the company, valued at $3,428,518.80. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.48% of the stock is currently owned by corporate insiders.

Belden Trading Down 0.2%

Shares of NYSE BDC opened at $116.34 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. Belden Inc has a 52-week low of $83.18 and a 52-week high of $131.82. The firm has a 50 day moving average price of $107.88 and a two-hundred day moving average price of $108.58. The stock has a market cap of $4.60 billion, a P/E ratio of 22.46 and a beta of 1.23.

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, beating the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The firm had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. During the same period in the prior year, the company posted $1.24 EPS. The company's revenue was up 16.6% on a year-over-year basis. As a group, equities 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 will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, June 12th. Belden's dividend payout ratio (DPR) is presently 3.86%.

Analysts Set New Price Targets

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

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.

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