Wedge Capital Management L L P NC Cuts Stock Holdings in Belden Inc. (NYSE:BDC)

Wedge Capital Management L L P NC decreased its holdings in Belden Inc. (NYSE:BDC - Free Report) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,270 shares of the industrial products company's stock after selling 6,774 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of Belden worth $2,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Entropy Technologies LP bought a new stake in Belden during the 4th quarter valued at about $270,000. Principal Securities Inc. increased its position in shares of Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock worth $135,000 after acquiring an additional 105 shares during the period. Principal Financial Group Inc. raised its stake in shares of Belden by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 107,967 shares of the industrial products company's stock valued at $12,158,000 after acquiring an additional 307 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in shares of Belden in the fourth quarter valued at approximately $227,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Belden by 49.9% in the fourth 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 period. 98.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BDC has been the subject of a number of research reports. Benchmark reiterated a "buy" rating and issued a $120.00 price target on shares of Belden in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $126.20.

Insider Transactions at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the firm's 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.48% of the company's stock.

Belden Stock Down 3.1%

NYSE BDC traded down $3.38 during trading on Friday, reaching $107.39. 253,930 shares of the company's stock traded hands, compared to its average volume of 274,358. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 22.33 and a beta of 1.23. The company's 50 day simple moving average is $104.25 and its two-hundred day simple moving average is $109.38. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.60 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 business had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. During the same quarter last year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

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

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.