Renaissance Group LLC Buys 4,006 Shares of Belden Inc. (NYSE:BDC)

Renaissance Group LLC increased its position in Belden Inc. (NYSE:BDC - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,275 shares of the industrial products company's stock after acquiring an additional 4,006 shares during the period. Renaissance Group LLC owned about 0.09% of Belden worth $4,310,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BDC. Captrust Financial Advisors increased its position in shares of Belden by 38.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,411 shares of the industrial products company's stock valued at $634,000 after purchasing an additional 1,497 shares during the last quarter. HighTower Advisors LLC grew its position in Belden by 13.1% during the third quarter. HighTower Advisors LLC now owns 3,428 shares of the industrial products company's stock valued at $402,000 after buying an additional 397 shares during the period. Janus Henderson Group PLC increased its holdings in Belden by 34.1% during the third quarter. Janus Henderson Group PLC now owns 34,635 shares of the industrial products company's stock valued at $4,055,000 after buying an additional 8,805 shares during the last quarter. State Street Corp raised its position in Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock worth $184,532,000 after acquiring an additional 100,145 shares during the period. Finally, Wolverine Trading LLC boosted its stake in shares of Belden by 135.2% during the 3rd quarter. Wolverine Trading LLC now owns 1,794 shares of the industrial products company's stock worth $208,000 after acquiring an additional 6,894 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. Loop Capital decreased their price objective on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. StockNews.com cut Belden from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has a consensus rating of "Buy" and a consensus target price of $128.20.

Insider Buying and Selling at Belden

In related news, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value 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 trade represents a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the company's stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock valued at $2,589,774 in the last 90 days. Insiders own 1.59% of the company's stock.

Belden Price Performance

Shares of Belden stock traded up $1.04 during trading hours on Friday, hitting $93.37. The company's stock had a trading volume of 237,757 shares, compared to its average volume of 273,848. 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 12-month low of $80.90 and a 12-month high of $131.82. The business has a 50 day moving average price of $104.69 and a two-hundred day moving average price of $113.68. The company has a market cap of $3.76 billion, a PE ratio of 19.41 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping 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%. Analysts expect that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders 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 was Thursday, March 13th. Belden's payout ratio is currently 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.