Belden Inc (NYSE:BDC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in Belden Inc (NYSE:BDC - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,845,589 shares of the industrial products company's stock after selling 26,648 shares during the quarter. Vanguard Group Inc. owned approximately 12.19% of Belden worth $485,770,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BDC. Allspring Global Investments Holdings LLC increased its holdings in Belden by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company's stock valued at $105,478,000 after buying an additional 7,683 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Belden by 0.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company's stock valued at $80,154,000 after buying an additional 3,692 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Belden by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company's stock valued at $78,309,000 after buying an additional 18,825 shares during the last quarter. Northern Trust Corp grew its holdings in shares of 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. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Belden by 3.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 457,313 shares of the industrial products company's stock valued at $51,498,000 after purchasing an additional 17,120 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Belden Price Performance

Shares of NYSE:BDC opened at $125.68 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03. Belden Inc has a 1 year low of $83.18 and a 1 year high of $132.99. The business has a fifty day simple moving average of $119.46 and a 200 day simple moving average of $110.22. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 22.77 and a beta of 1.28.

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

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. Belden's payout ratio is presently 3.62%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Benchmark upped their target price on Belden from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Belden in a report on Friday, July 11th. Finally, Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $136.50.

Insider Activity at Belden

In related news, SVP Brian Edward Anderson sold 7,158 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $130.51, for a total transaction of $934,190.58. Following the transaction, the senior vice president directly owned 39,574 shares in the company, valued at $5,164,802.74. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.48% of the company's stock.

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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