Bank of America Corp DE Raises Holdings in Belden Inc. (NYSE:BDC)

Bank of America Corp DE lifted its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 234.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,363 shares of the industrial products company's stock after acquiring an additional 157,335 shares during the quarter. Bank of America Corp DE owned 0.56% of Belden worth $25,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BDC. BNP Paribas Financial Markets boosted its position in Belden by 55.4% during the 4th quarter. BNP Paribas Financial Markets now owns 23,646 shares of the industrial products company's stock worth $2,663,000 after purchasing an additional 8,429 shares during the period. Jane Street Group LLC grew its position in Belden by 111.2% in the 4th quarter. Jane Street Group LLC now owns 49,067 shares of the industrial products company's stock worth $5,525,000 after purchasing an additional 25,838 shares during the last quarter. Comerica Bank raised its position in shares of Belden by 13.7% during the 4th quarter. Comerica Bank now owns 28,454 shares of the industrial products company's stock worth $3,204,000 after buying an additional 3,439 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Belden in the fourth quarter valued at approximately $450,000. Finally, Northern Trust Corp lifted its stake in Belden by 10.2% during the fourth quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock valued at $71,305,000 after purchasing an additional 58,508 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Trading Down 1.8%

BDC stock traded down $1.95 during trading on Friday, reaching $106.32. The company had a trading volume of 166,602 shares, compared to its average volume of 275,731. Belden Inc. has a 52 week low of $83.18 and a 52 week high of $131.82. The business has a 50 day moving average of $101.54 and a 200 day moving average of $110.70. The company has a market cap of $4.20 billion, a P/E ratio of 22.10 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37.

Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. The company 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%. Belden's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 EPS. As a group, sell-side analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

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 paid a dividend of $0.05 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden's dividend payout ratio (DPR) is presently 3.86%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Benchmark restated a "buy" rating and set a $120.00 price target on shares of Belden in a research note on Monday, May 5th. Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group lowered their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Loop Capital decreased their target price on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $126.20.

Insider Buying and Selling

In related news, CEO Ashish Chand sold 14,535 shares of Belden stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $111.45, for a total value 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 $11,939,527.05. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leah Tate sold 231 shares of the company's 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 owns 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 disclosure for this sale can be found here. Insiders sold a total of 21,259 shares of company stock worth $2,340,577 in the last 90 days. 1.48% of the stock is owned by corporate 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.