Mackenzie Financial Corp Reduces Position in Belden Inc. (NYSE:BDC)

Mackenzie Financial Corp lessened its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,794 shares of the industrial products company's stock after selling 10,964 shares during the period. Mackenzie Financial Corp's holdings in Belden were worth $990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its stake in Belden by 234.7% during the fourth quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock worth $25,266,000 after purchasing an additional 157,335 shares during the period. Norges Bank purchased a new stake in shares of Belden during the 4th quarter valued at approximately $54,167,000. Polen Capital Management LLC purchased a new stake in shares of Belden during the 4th quarter valued at approximately $2,723,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Belden during the 4th quarter valued at approximately $1,126,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Belden in the fourth quarter valued at $443,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Stock Up 3.4%

BDC traded up $3.52 during trading hours on Tuesday, hitting $108.16. 141,072 shares of the company's stock were exchanged, compared to its average volume of 276,944. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82. The firm has a 50 day moving average of $101.83 and a 200 day moving average of $109.91. The firm has a market cap of $4.27 billion, a P/E ratio of 22.49 and a beta of 1.24. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.12. Belden had a return on equity of 21.42% and a net margin of 8.06%. The business had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the prior year, the company earned $1.24 earnings per share. The company's revenue was up 16.6% on a year-over-year basis. Analysts predict that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.18%. Belden's payout ratio is 3.86%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, SVP Leah Tate sold 231 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the transaction, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total transaction of $441,882.00. Following the sale, the director now directly owns 4,199 shares in the company, valued at approximately $441,776.79. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. 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.