Belden Inc. (NYSE:BDC) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lessened its position in shares of Belden Inc. (NYSE:BDC) by 22.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 552,397 shares of the industrial products company’s stock after selling 158,238 shares during the quarter. Channing Capital Management LLC owned approximately 1.37% of Belden worth $62,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after acquiring an additional 576,768 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Belden during the 3rd quarter worth approximately $11,814,000. State Street Corp increased its stake in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Belden by 10.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after purchasing an additional 68,151 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Belden in the 4th quarter valued at approximately $6,301,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Stock Performance

Belden stock opened at $101.11 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The firm’s fifty day moving average price is $113.62 and its 200 day moving average price is $115.03. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 21.02 and a beta of 1.02. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82.

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

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.20%. Belden’s dividend payout ratio is presently 4.16%.

Insider Buying and Selling at Belden

In related news, CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the sale, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock worth $2,589,774 in the last ninety days. 1.59% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on BDC shares. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Belden in a research report on Monday, February 10th. Loop Capital cut their price objective on 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 upgraded Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Belden has an average rating of “Buy” and an average target price of $130.25.

Belden Company 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.