Ameriprise Financial Inc. Has $13.07 Million Position in Belden Inc. (NYSE:BDC)

Ameriprise Financial Inc. lowered its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.29% of Belden worth $13,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Belden during the 4th quarter valued at about $54,167,000. FMR LLC lifted its position in Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after purchasing an additional 223,887 shares during the period. JPMorgan Chase & Co. lifted its position in Belden by 61.2% during the 4th 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 period. Barclays PLC lifted its position in Belden by 121.4% during the 4th quarter. Barclays PLC now owns 177,397 shares of the industrial products company's stock valued at $19,977,000 after purchasing an additional 97,265 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in shares of Belden by 169.6% in the 4th quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company's stock valued at $16,477,000 after acquiring an additional 92,037 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com cut Belden from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group cut their price objective on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Loop Capital cut their price target on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Benchmark reiterated a "buy" rating and set a $120.00 price objective on shares of Belden in a research report on Monday, May 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $126.20.

Belden Price Performance

Shares of NYSE:BDC opened at $112.47 on Monday. The stock's 50 day moving average is $100.80 and its 200-day moving average is $111.01. Belden Inc. has a twelve month low of $83.18 and a twelve month high of $131.82. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 23.38 and a beta of 1.24. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

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 the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. Belden's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 earnings per share. Sell-side analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. Belden's dividend payout ratio (DPR) is presently 3.86%.

Insider Activity

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 sale, the senior vice president now directly owns 30,170 shares in the company, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the completion of the sale, the chief executive officer now directly owns 107,129 shares in the company, valued at $11,939,527.05. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,259 shares of company stock worth $2,340,577. 1.48% of the stock is currently owned by insiders.

Belden Company 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.

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