Belden Inc. (NYSE:BDC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of Belden Inc. (NYSE:BDC - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,518 shares of the industrial products company's stock after selling 4,109 shares during the period. Corebridge Financial Inc. owned about 0.16% of Belden worth $7,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BDC. FMR LLC increased its stake in 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 buying an additional 576,768 shares during the period. State Street Corp increased its position in shares of Belden by 6.8% during 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. Geode Capital Management LLC raised 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 acquiring an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after purchasing an additional 68,151 shares during the period. Finally, Boston Partners grew its stake in Belden by 43.1% during the 4th quarter. Boston Partners now owns 230,170 shares of the industrial products company's stock worth $26,387,000 after purchasing an additional 69,365 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Belden news, Director Gregory James Mccray sold 4,200 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now directly owns 4,199 shares of the company's stock, valued at approximately $441,776.79. This trade represents a 50.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan C. Klein sold 2,129 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the sale, the director now directly owns 9,968 shares of the company's stock, valued at $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,428 shares of company stock valued at $2,589,774 over the last quarter. Company insiders own 1.59% of the company's stock.

Belden Stock Up 1.7 %

Shares of Belden stock traded up $1.76 during trading hours on Wednesday, hitting $102.84. The company had a trading volume of 60,270 shares, compared to its average volume of 284,823. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The company's 50-day moving average is $109.52 and its two-hundred day moving average is $114.97. The company has a market cap of $4.14 billion, a P/E ratio of 21.38 and a beta of 1.02. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82.

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

Belden Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. Belden's dividend payout ratio is presently 4.16%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $130.00 price target on shares of Belden in a research report on Monday, February 10th. Loop Capital decreased their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target 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.