Silvercrest Asset Management Group LLC Sells 119,659 Shares of Belden Inc. (NYSE:BDC)

Silvercrest Asset Management Group LLC lowered its position in Belden Inc. (NYSE:BDC - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 584,740 shares of the industrial products company's stock after selling 119,659 shares during the period. Silvercrest Asset Management Group LLC owned about 1.45% of Belden worth $65,848,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Belden in the fourth quarter worth about $26,000. Quarry LP increased its holdings in Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after buying an additional 265 shares during the last quarter. First Horizon Advisors Inc. raised its position in Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock worth $71,000 after acquiring an additional 211 shares during the period. Parkside Financial Bank & Trust raised its position in Belden by 31.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock worth $94,000 after acquiring an additional 199 shares during the period. Finally, Principal Securities Inc. boosted its stake in shares of Belden by 9.6% during the 4th 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 last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Price Performance

Shares of BDC traded down $2.11 during midday trading on Wednesday, hitting $109.43. 78,802 shares of the company traded hands, compared to its average volume of 275,174. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 22.85 and a beta of 1.24. The firm has a 50 day moving average of $101.23 and a 200-day moving average of $110.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden Inc. has a 52 week low of $83.18 and a 52 week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly 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. The company had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The firm's revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. On average, analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, March 13th. Belden's dividend payout ratio is presently 3.86%.

Insider Activity at Belden

In related news, Director Gregory James Mccray sold 4,200 shares of the stock in a transaction 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 owns 4,199 shares in the company, valued at approximately $441,776.79. This represents a 50.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Leah Tate sold 231 shares of Belden stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the transaction, the senior vice president now directly owns 30,170 shares of the company's stock, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,259 shares of company stock valued at $2,340,577 over the last 90 days. 1.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BDC. Benchmark reaffirmed a "buy" rating and issued a $120.00 target price on shares of Belden in a report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Loop Capital lowered 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. Finally, StockNews.com downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $126.20.

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.