American International Group Inc. Reduces Stock Holdings in Belden Inc. (NYSE:BDC)

American International Group Inc. trimmed its holdings in shares of Belden Inc. (NYSE:BDC) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,106 shares of the industrial products company’s stock after selling 3,361 shares during the quarter. American International Group Inc.’s holdings in Belden were worth $5,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDC. FMR LLC grew its stake in Belden by 1,365.5% during 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 last quarter. Norges Bank purchased a new position in Belden during the 4th quarter worth $35,403,000. Pzena Investment Management LLC grew its stake in Belden by 32.5% during the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after buying an additional 224,486 shares during the last quarter. Channing Capital Management LLC grew its stake in Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after buying an additional 209,052 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Belden by 2.0% during 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 last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BDC has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $100.00 target price on shares of Belden in a research note on Monday, May 6th. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Loop Capital boosted their price target on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial reiterated a “buy” rating and set a $119.00 price target (up previously from $101.00) on shares of Belden in a research note on Friday, June 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Insider Transactions at Belden

In other news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the transaction, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the completion of the transaction, the director now directly owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Insiders have sold 9,400 shares of company stock worth $911,900 over the last quarter. 1.59% of the stock is currently owned by insiders.

Belden Stock Up 1.1 %

Shares of BDC opened at $95.05 on Friday. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 18.60 and a beta of 1.09. The stock’s 50-day moving average price is $91.36 and its 200-day moving average price is $84.55.

Belden (NYSE:BDC) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s revenue was down 16.5% compared to the same quarter last year. On average, sell-side analysts predict that Belden Inc. will post 5.77 EPS for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden’s payout ratio is 3.91%.

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.