Great Lakes Advisors LLC Decreases Stock Holdings in Belden Inc $BDC

Great Lakes Advisors LLC lowered its holdings in Belden Inc (NYSE:BDC) by 60.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,206 shares of the industrial products company’s stock after selling 59,697 shares during the period. Great Lakes Advisors LLC owned about 0.10% of Belden worth $4,715,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Belden by 2.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock valued at $126,328,000 after buying an additional 28,336 shares in the last quarter. Ethic Inc. bought a new position in shares of Belden in the second quarter worth $252,000. JPMorgan Chase & Co. grew its position in shares of Belden by 28.1% in the second quarter. JPMorgan Chase & Co. now owns 275,726 shares of the industrial products company’s stock valued at $31,929,000 after purchasing an additional 60,445 shares in the last quarter. Riverwater Partners LLC bought a new stake in shares of Belden during the 3rd quarter valued at $1,834,000. Finally, Bank of New York Mellon Corp lifted its holdings in Belden by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,671 shares of the industrial products company’s stock worth $71,989,000 after purchasing an additional 31,834 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Belden Stock Down 1.9%

BDC stock opened at $117.47 on Friday. The company’s 50 day moving average is $117.76 and its 200 day moving average is $120.64. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 20.86 and a beta of 1.17. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. Belden Inc has a 1-year low of $83.18 and a 1-year high of $133.77.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The business had revenue of $698.22 million during the quarter, compared to analysts’ expectations of $679.61 million. Belden had a net margin of 8.57% and a return on equity of 23.95%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.70 EPS. Sell-side analysts predict that Belden Inc will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 11th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 11th. Belden’s dividend payout ratio is presently 3.55%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial raised their target price on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insider Transactions at Belden

In other Belden news, SVP Hiran Bhadra sold 1,600 shares of Belden stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $120.00, for a total transaction of $192,000.00. Following the transaction, the senior vice president directly owned 26,119 shares of the company’s stock, valued at approximately $3,134,280. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan C. Klein sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $124.19, for a total transaction of $372,570.00. Following the completion of the sale, the director owned 8,353 shares of the company’s stock, valued at approximately $1,037,359.07. The trade was a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,154 shares of company stock valued at $1,371,050 over the last 90 days. Company insiders own 1.48% of the company’s stock.

Belden Profile

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.