Channing Capital Management LLC Sells 158,238 Shares of Belden Inc. (NYSE:BDC)

Channing Capital Management LLC lessened its position in Belden Inc. (NYSE:BDC - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 552,397 shares of the industrial products company's stock after selling 158,238 shares during the period. Channing Capital Management LLC owned about 1.37% of Belden worth $62,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BDC. US Bancorp DE lifted its position in Belden by 7.4% during the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 193 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Belden by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company's stock valued at $406,000 after purchasing an additional 148 shares during the period. Atria Investments Inc lifted its position in Belden by 9.5% in the third quarter. Atria Investments Inc now owns 6,340 shares of the industrial products company's stock valued at $743,000 after buying an additional 552 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Belden in the third quarter valued at about $608,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Belden during the third quarter worth about $687,000. Institutional investors own 98.75% of the company's stock.

Insider Activity

In related news, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction dated 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 owns 23,243 shares of the company's stock, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory James Mccray sold 4,200 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the transaction, the director now owns 4,199 shares of the company's stock, valued at $441,776.79. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,428 shares of company stock valued at $2,589,774. Company insiders own 1.59% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently weighed in on BDC shares. Loop Capital reduced 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. Benchmark reaffirmed a "buy" rating and set a $130.00 price target on shares of Belden in a report on Monday, February 10th. Finally, StockNews.com raised Belden from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $130.25.

Belden Stock Performance

BDC traded up $1.73 during trading on Friday, reaching $101.55. 329,327 shares of the company were exchanged, compared to its average volume of 256,299. The stock has a market cap of $4.09 billion, a P/E ratio of 21.11 and a beta of 1.02. The company has a current ratio of 1.92, a quick ratio of 1.37 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 firm has a 50 day moving average of $113.19 and a 200 day moving average of $114.91.

Belden (NYSE:BDC - Get Free Report) 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, sell-side analysts forecast 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. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Thursday, March 13th. 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.