Arrowstreet Capital Limited Partnership Makes New Investment in Belden Inc. (NYSE:BDC)

Arrowstreet Capital Limited Partnership bought a new position in shares of Belden Inc. (NYSE:BDC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 8,755 shares of the industrial products company's stock, valued at approximately $986,000.

A number of other large investors have also modified their holdings of BDC. Geode Capital Management LLC boosted its stake in shares of Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock valued at $112,580,000 after buying an additional 5,727 shares in the last quarter. Polen Capital Management LLC purchased a new stake in shares of Belden during the 4th quarter worth $2,723,000. Norges Bank acquired a new position in shares of Belden during the 4th quarter worth $54,167,000. Barclays PLC grew its stake in shares of Belden by 189.4% during the 3rd quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock worth $9,386,000 after purchasing an additional 52,439 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Belden by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company's stock valued at $21,432,000 after purchasing an additional 23,936 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Belden news, SVP Leah Tate sold 2,400 shares of the 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 transaction, the senior vice president now owns 23,243 shares of the company's stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the sale, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock valued at $2,589,774 in the last ninety days. Insiders own 1.59% of the company's stock.

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Belden Price Performance

Shares of BDC traded up $0.07 during mid-day trading on Tuesday, reaching $94.89. 197,441 shares of the company's stock were exchanged, compared to its average volume of 273,661. 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 52-week low of $80.90 and a 52-week high of $131.82. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 19.73 and a beta of 1.07. The company has a 50-day simple moving average of $104.26 and a two-hundred day simple moving average of $113.53.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, sell-side analysts predict that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, March 13th. Belden's payout ratio is 4.16%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BDC. Loop Capital lowered their target price on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price target on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Belden in a report on Monday, February 10th. Finally, StockNews.com lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $128.20.

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.