Belden Inc. (NYSE:BDC) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Belden Inc. (NYSE:BDC) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,872 shares of the industrial products company’s stock after acquiring an additional 322 shares during the quarter. Russell Investments Group Ltd.’s holdings in Belden were worth $999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDC. Envestnet Asset Management Inc. increased its position in shares of Belden by 10.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 40,530 shares of the industrial products company’s stock worth $4,564,000 after purchasing an additional 3,795 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Belden during the fourth quarter valued at about $443,000. Wells Fargo & Company MN raised its stake in shares of Belden by 13.7% in the 4th quarter. Wells Fargo & Company MN now owns 40,357 shares of the industrial products company’s stock valued at $4,545,000 after acquiring an additional 4,859 shares during the period. Atlas Capital Advisors Inc. boosted its position in shares of Belden by 10.5% during the 4th quarter. Atlas Capital Advisors Inc. now owns 7,641 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 724 shares during the period. Finally, May Hill Capital LLC acquired a new stake in Belden in the 4th quarter valued at approximately $439,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Down 1.8 %

Shares of Belden stock opened at $92.34 on Tuesday. Belden Inc. has a 52-week low of $81.02 and a 52-week high of $131.82. The company has a 50 day moving average of $102.25 and a 200 day moving average of $112.74. 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 company has a market capitalization of $3.67 billion, a P/E ratio of 19.20 and a beta of 1.07.

Belden (NYSE:BDC) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. As a group, research analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were paid a $0.05 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.22%. Belden’s dividend payout ratio is currently 4.16%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. 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 research report on Thursday, April 10th. Benchmark lowered their target price on Belden from $130.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Loop Capital reduced their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, StockNews.com cut shares of Belden from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus price target of $126.20.

Insiders Place Their Bets

In related news, CEO Ashish Chand sold 14,535 shares of the company’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 completion of the sale, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at $11,939,527.05. This represents a 11.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by corporate insiders.

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.