Wedge Capital Management L L P NC Has $4.86 Million Stock Holdings in Belden Inc. (NYSE:BDC)

Wedge Capital Management L L P NC raised its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 45.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,936 shares of the industrial products company's stock after purchasing an additional 19,558 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.15% of Belden worth $4,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BDC. Vanguard Group Inc. grew its position in shares of Belden by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company's stock worth $455,156,000 after buying an additional 92,544 shares during the period. FMR LLC grew its position in shares of Belden by 1,365.5% in the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company's stock worth $99,075,000 after buying an additional 956,136 shares during the period. Bank of New York Mellon Corp grew its position in shares of Belden by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company's stock worth $79,216,000 after buying an additional 111,232 shares during the period. Channing Capital Management LLC grew its position in shares of Belden by 7.6% in the 3rd quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company's stock worth $68,552,000 after buying an additional 50,256 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Belden by 3.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company's stock worth $33,417,000 after buying an additional 12,844 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Belden

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

Wall Street Analysts Forecast Growth

BDC has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Belden from $89.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 9th. StockNews.com downgraded shares of Belden from a "buy" rating to a "hold" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

Belden Stock Performance

BDC traded down $0.36 during midday trading on Thursday, hitting $82.89. 270,407 shares of the company traded hands, compared to its average volume of 275,324. 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 firm has a market capitalization of $3.37 billion, a PE ratio of 14.64 and a beta of 1.04. The company's 50-day moving average is $86.86 and its 200 day moving average is $78.37. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. The business had revenue of $551.24 million for the quarter, compared to analysts' expectations of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business's revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 EPS. On average, research analysts expect that Belden Inc. will post 5.33 EPS for the current year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden's dividend payout ratio (DPR) 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.