Allspring Global Investments Holdings LLC Has $117.26 Million Holdings in Belden Inc. (NYSE:BDC)

Allspring Global Investments Holdings LLC decreased its holdings in Belden Inc. (NYSE:BDC - Free Report) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,035,827 shares of the industrial products company's stock after selling 30,488 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.57% of Belden worth $117,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock worth $525,485,000 after purchasing an additional 576,768 shares during the period. State Street Corp raised its position in shares of Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after purchasing an additional 100,145 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock valued at $112,580,000 after purchasing an additional 5,727 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 valued at $82,939,000 after acquiring an additional 68,151 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Belden by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company's stock valued at $21,432,000 after acquiring an additional 23,936 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Remove Ads

Insider Activity

In other news, SVP Leah Tate sold 2,400 shares of the company's 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 sale, the senior vice president now directly owns 23,243 shares of the company's stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.59% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Loop Capital lowered their price objective on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Benchmark restated a "buy" rating and set a $130.00 price objective on shares of Belden in a research note on Monday, February 10th. Finally, StockNews.com upgraded Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $130.25.

Belden Stock Performance

Shares of NYSE:BDC traded up $0.30 on Friday, hitting $114.69. The company's stock had a trading volume of 350,075 shares, compared to its average volume of 229,557. Belden Inc. has a 12 month low of $78.64 and a 12 month high of $131.82. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 23.84 and a beta of 1.08. The stock's 50-day moving average is $116.32 and its two-hundred day moving average is $113.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.43 and a current ratio of 1.92.

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 (EPS) 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, equities research analysts forecast that Belden Inc. will post 7.76 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden's dividend payout ratio (DPR) is 4.16%.

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.