Allspring Global Investments Holdings LLC Cuts Position in Belden Inc. (NYSE:BDC)

Allspring Global Investments Holdings LLC reduced its stake in shares of Belden Inc. (NYSE:BDC) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,035,827 shares of the industrial products company’s stock after selling 30,488 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Belden were worth $117,256,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Belden during the 3rd quarter valued at $33,000. First Horizon Advisors Inc. boosted its position in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares in the last quarter. KBC Group NV grew its stake in Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after buying an additional 274 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in Belden by 72.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock valued at $167,000 after buying an additional 599 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Price Performance

Shares of NYSE BDC opened at $112.65 on Thursday. Belden Inc. has a 52 week low of $78.64 and a 52 week high of $131.82. The business’s 50 day moving average price is $116.63 and its 200 day moving average price is $113.44. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The firm has a market cap of $4.54 billion, a P/E ratio of 23.42 and a beta of 1.08.

Belden (NYSE:BDC) last released its quarterly earnings data 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 net margin of 8.06% and a return on equity of 21.42%. On average, sell-side analysts expect that Belden Inc. will post 7.76 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, December 12th. Belden’s dividend payout ratio is currently 4.16%.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of the company’s 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 sale, the senior vice president now owns 23,243 shares in the company, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BDC shares. Loop Capital lowered their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Belden in a research note on Monday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Belden currently has a consensus rating of “Buy” and a consensus target price of $130.25.

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.