Lord Abbett & CO. LLC Has $67.79 Million Position in Belden Inc $BDC

Key Points

• Lord Abbett & CO. LLC reduced its stake in Belden Inc by 5.0% in Q1, now owning approximately 676,166 shares valued at $67.78 million.
• Belden reported $1.89 earnings per share for the last quarter, exceeding expectations and showing an 11.2% increase in revenue compared to the previous year.
• The firm's recent dividend announcement included a payout of $0.05 per share, representing a 0.2% yield with a low payout ratio of 3.62%.

Lord Abbett & CO. LLC trimmed its holdings in Belden Inc (NYSE:BDC - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,166 shares of the industrial products company's stock after selling 35,618 shares during the quarter. Lord Abbett & CO. LLC owned about 1.71% of Belden worth $67,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Belden by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company's stock worth $105,478,000 after buying an additional 7,683 shares in the last quarter. Invesco Ltd. grew its holdings in Belden by 37.2% in the 1st quarter. Invesco Ltd. now owns 1,024,497 shares of the industrial products company's stock worth $102,706,000 after buying an additional 277,782 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Belden by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company's stock worth $78,309,000 after buying an additional 18,825 shares in the last quarter. Northern Trust Corp grew its holdings in Belden by 10.2% in the 4th quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock worth $71,305,000 after buying an additional 58,508 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Belden by 3.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 457,313 shares of the industrial products company's stock worth $51,498,000 after purchasing an additional 17,120 shares during the period. 98.75% of the stock is owned by institutional investors.

Belden Price Performance

Shares of NYSE:BDC traded up $0.14 on Monday, reaching $124.27. 163,366 shares of the company traded hands, compared to its average volume of 282,823. Belden Inc has a fifty-two week low of $83.18 and a fifty-two week high of $132.99. The company's 50 day moving average is $119.73 and its 200-day moving average is $110.19. The stock has a market capitalization of $4.92 billion, a PE ratio of 22.51 and a beta of 1.28. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.99 and a quick ratio of 1.35.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. Belden had a return on equity of 23.29% and a net margin of 8.60%. The company had revenue of $671.99 million during the quarter, compared to the consensus estimate of $654.82 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that Belden Inc will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, June 12th. Belden's payout ratio is 3.62%.

Insider Transactions at Belden

In other Belden news, SVP Brian Edward Anderson sold 7,158 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $130.51, for a total transaction of $934,190.58. Following the sale, the senior vice president directly owned 39,574 shares of the company's stock, valued at $5,164,802.74. The trade was a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Belden from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. The Goldman Sachs Group restated a "buy" rating on shares of Belden in a research report on Friday, July 11th. Finally, Benchmark upped their target price on Belden from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $136.50.

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.