D. E. Shaw & Co. Inc. Trims Position in Belden Inc. (NYSE:BDC)

D. E. Shaw & Co. Inc. lessened its holdings in Belden Inc. (NYSE:BDC - Free Report) by 61.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,412 shares of the industrial products company's stock after selling 42,791 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.07% of Belden worth $3,087,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Belden in the 4th quarter worth about $26,000. Quarry LP raised its position in shares of Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 265 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 211 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock worth $94,000 after buying an additional 199 shares during the period. Finally, Principal Securities Inc. increased its holdings in Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock worth $135,000 after buying an additional 105 shares during the period. Institutional investors own 98.75% of the company's stock.

Belden Stock Performance

Shares of NYSE BDC traded down $1.95 during midday trading on Friday, reaching $106.32. 166,602 shares of the stock were exchanged, compared to its average volume of 275,731. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 22.10 and a beta of 1.24. Belden Inc. has a twelve month low of $83.18 and a twelve month high of $131.82. The firm has a 50-day simple moving average of $101.54 and a two-hundred day simple moving average of $110.58. 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 released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The firm had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. During the same quarter last year, the company earned $1.24 EPS. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity at Belden

In related news, SVP Leah Tate sold 231 shares of Belden stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the transaction, the director now owns 4,199 shares in the company, valued at $441,776.79. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,259 shares of company stock valued at $2,340,577. 1.48% of the stock is owned by company insiders.

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.