Front Street Capital Management Inc. Sells 3,588 Shares of Belden Inc. (NYSE:BDC)

Front Street Capital Management Inc. cut its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 61.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,258 shares of the industrial products company's stock after selling 3,588 shares during the period. Front Street Capital Management Inc.'s holdings in Belden were worth $254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Belden during the 4th quarter worth approximately $54,167,000. FMR LLC lifted its stake in Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after acquiring an additional 223,887 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Belden by 61.2% during the 4th quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock valued at $33,212,000 after acquiring an additional 111,952 shares in the last quarter. Barclays PLC grew its stake in shares of Belden by 121.4% in the 4th quarter. Barclays PLC now owns 177,397 shares of the industrial products company's stock worth $19,977,000 after acquiring an additional 97,265 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of Belden by 169.6% in the fourth quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company's stock valued at $16,477,000 after purchasing an additional 92,037 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Benchmark dropped their price target on Belden from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Monday. StockNews.com downgraded Belden from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $126.20.

Belden Stock Performance

Belden stock traded up $3.48 during midday trading on Wednesday, reaching $98.21. The stock had a trading volume of 118,475 shares, compared to its average volume of 273,803. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.90 billion, a PE ratio of 20.42 and a beta of 1.07. Belden Inc. has a 12 month low of $81.02 and a 12 month high of $131.82. The firm's 50-day moving average price is $101.85 and its 200 day moving average price is $112.62.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, research analysts predict that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Thursday, March 13th. Belden's payout ratio is presently 4.16%.

Insider Activity

In related news, Director Jonathan C. Klein sold 2,129 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total value of $234,190.00. Following the sale, the director now owns 9,968 shares in the company, valued at approximately $1,096,480. This trade represents a 17.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashish Chand sold 14,535 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,428 shares of company stock worth $2,589,774 over the last ninety days. Company insiders own 1.59% of the company's stock.

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.