Belden Inc. (NYSE:BDC) Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in shares of Belden Inc. (NYSE:BDC) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,318 shares of the industrial products company’s stock after selling 1,597 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.34% of Belden worth $15,238,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BDC. Aster Capital Management DIFC Ltd bought a new position in shares of Belden in the 4th quarter worth about $26,000. Quarry LP lifted its position in shares of Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after buying an additional 265 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after buying an additional 211 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after buying an additional 105 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Belden in a report on Monday, May 5th. Finally, Loop Capital dropped their price objective 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.com, Belden currently has an average rating of “Buy” and a consensus target price of $126.20.

Belden Stock Down 1.8%

BDC stock opened at $106.32 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a fifty-two week low of $83.18 and a fifty-two week high of $131.82. The firm’s 50-day simple moving average is $101.54 and its 200 day simple moving average is $110.58. The stock has a market cap of $4.20 billion, a PE ratio of 22.10 and a beta of 1.24.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. The business had revenue of $624.86 million for the quarter, compared to analysts’ expectations of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. As a group, sell-side analysts predict that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.19%. Belden’s payout ratio is 3.86%.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the transaction, the senior vice president now owns 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory James Mccray sold 4,200 shares of Belden stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 4,199 shares in the company, valued at $441,776.79. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,724 shares of company stock valued at $720,651. Company insiders own 1.48% of the company’s stock.

About Belden

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.