Bank of New York Mellon Corp Decreases Position in Belden Inc. (NYSE:BDC)

Bank of New York Mellon Corp cut its position in Belden Inc. (NYSE:BDC - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 686,167 shares of the industrial products company's stock after selling 31,979 shares during the period. Bank of New York Mellon Corp owned approximately 1.70% of Belden worth $77,269,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Belden in the third quarter worth approximately $608,000. GSA Capital Partners LLP bought a new stake in shares of Belden in the third quarter worth approximately $687,000. Citigroup Inc. grew its stake in shares of Belden by 157.5% in the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company's stock worth $3,801,000 after acquiring an additional 19,849 shares during the period. Geode Capital Management LLC lifted its holdings in Belden by 0.6% during 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 purchasing an additional 5,727 shares in the last quarter. Finally, Foster & Motley Inc. lifted its holdings in Belden by 25.3% during the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company's stock valued at $4,530,000 after purchasing an additional 7,819 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Price Performance

BDC stock opened at $106.31 on Tuesday. The company has a market capitalization of $4.28 billion, a PE ratio of 22.10 and a beta of 1.08. The company's fifty day moving average price is $114.65 and its 200-day moving average price is $115.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden Inc. has a one year low of $80.90 and a one year high of $131.82.

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, beating analysts' consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Thursday, March 13th. Belden's payout ratio is 4.16%.

Insider Activity at Belden

In other Belden news, Director Jonathan C. Klein sold 2,129 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the transaction, the director now owns 9,968 shares in the company, valued at $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction on Friday, February 7th. The shares were 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 in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,228 shares of company stock valued at $2,147,892 over the last 90 days. 1.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented 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 report on Tuesday, February 11th. StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Belden has an average rating of "Buy" and a consensus target price of $130.25.

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.

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