Allspring Global Investments Holdings LLC Decreases Position in Belden Inc. (NYSE:BDC)

Allspring Global Investments Holdings LLC trimmed its stake in Belden Inc. (NYSE:BDC - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,353,474 shares of the industrial products company's stock after selling 192,668 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 3.25% of Belden worth $104,556,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC lifted its stake in Belden by 17.4% in the fourth quarter. Ceredex Value Advisors LLC now owns 186,600 shares of the industrial products company's stock valued at $14,424,000 after buying an additional 27,600 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Belden by 4.6% during the fourth quarter. New York State Teachers Retirement System now owns 66,569 shares of the industrial products company's stock valued at $5,142,000 after purchasing an additional 2,936 shares in the last quarter. PFG Advisors lifted its holdings in Belden by 34.8% in the fourth quarter. PFG Advisors now owns 3,324 shares of the industrial products company's stock worth $257,000 after purchasing an additional 859 shares during the period. State of Alaska Department of Revenue lifted its holdings in Belden by 588.5% in the fourth quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company's stock worth $2,673,000 after purchasing an additional 29,585 shares during the period. Finally, Blue Trust Inc. grew its position in Belden by 31.9% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company's stock valued at $83,000 after buying an additional 261 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Belden from a "hold" rating to a "buy" rating in a research note on Wednesday, December 13th. Truist Financial boosted their target price on Belden from $89.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.25.

Insider Transactions at Belden

In other news, EVP Brian Lieser sold 2,056 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares of the company's stock, valued at approximately $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Belden Price Performance

NYSE BDC traded down $0.18 on Tuesday, reaching $89.13. 169,616 shares of the stock traded hands, compared to its average volume of 283,496. The firm's fifty day simple moving average is $85.73 and its 200 day simple moving average is $79.04. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $99.13.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.34. The firm had revenue of $551.24 million during the quarter, compared to analyst estimates of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The firm's quarterly revenue was down 16.4% on a year-over-year basis. During the same period last year, the company posted $1.75 EPS. As a group, research analysts predict that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Wednesday, March 13th. Belden's dividend payout ratio is presently 3.53%.

Belden Company 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.