Ameriprise Financial Inc. Sells 19,119 Shares of Belden Inc. (NYSE:BDC)

Ameriprise Financial Inc. lessened its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,060 shares of the industrial products company's stock after selling 19,119 shares during the period. Ameriprise Financial Inc. owned 0.29% of Belden worth $13,070,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in Belden during the 4th quarter worth approximately $26,000. Quarry LP boosted its holdings in shares of Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 265 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 211 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Belden by 31.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 199 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Insider Buying and Selling

In other news, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the transaction, the chief executive officer now owns 107,129 shares in the company, valued at approximately $11,939,527.05. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory James Mccray sold 4,200 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the sale, the director now directly owns 4,199 shares of the company's stock, valued at $441,776.79. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,259 shares of company stock valued at $2,340,577 in the last quarter. Company insiders own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

BDC has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their target price 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. Wall Street Zen downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 14th. Benchmark restated a "buy" rating and issued a $120.00 target price on shares of Belden in a report on Monday, May 5th. Finally, 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 report on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden has an average rating of "Buy" and an average target price of $126.20.

Belden Trading Down 1.8%

BDC traded down $1.95 during trading on Friday, hitting $106.32. 166,602 shares of the company's stock were exchanged, compared to its average volume of 275,731. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. Belden Inc. has a 1 year low of $83.18 and a 1 year high of $131.82. The stock has a 50 day moving average price of $101.54 and a 200 day moving average price of $110.70. The firm has a market cap of $4.20 billion, a P/E ratio of 22.10 and a beta of 1.24.

Belden (NYSE:BDC - Get Free Report) last posted 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. The firm had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The firm's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden's dividend payout ratio (DPR) is presently 3.86%.

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.