Belden Inc. (NYSE:BDC) Stock Position Lowered by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its position in shares of Belden Inc. (NYSE:BDC - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,203 shares of the industrial products company's stock after selling 4,745 shares during the period. Belden makes up approximately 1.1% of Granite Investment Partners LLC's portfolio, making the stock its 21st largest position. Granite Investment Partners LLC owned about 0.56% of Belden worth $25,473,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Belden during the fourth quarter worth $54,167,000. FMR LLC grew its position in Belden by 5.0% in the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after acquiring an additional 223,887 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Belden by 61.2% during the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock worth $33,212,000 after purchasing an additional 111,952 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Belden by 169.6% in the fourth quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company's stock valued at $16,477,000 after purchasing an additional 92,037 shares in the last quarter. Finally, Boston Partners lifted its holdings 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 buying an additional 69,365 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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Belden Stock Performance

Shares of NYSE:BDC traded up $0.07 on Tuesday, reaching $94.89. The company's stock had a trading volume of 197,441 shares, compared to its average volume of 274,068. The stock's 50-day moving average is $103.86 and its two-hundred day moving average is $113.40. Belden Inc. has a 52-week low of $80.90 and a 52-week high of $131.82. 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 stock has a market capitalization of $3.77 billion, a P/E ratio of 19.73 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 earnings per share for the quarter, topping 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%. As a group, sell-side analysts forecast that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors 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 4.16%.

Insider Activity at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. The trade was a 11.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the director now directly owns 4,199 shares of the company's stock, valued at approximately $441,776.79. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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.

Analyst Ratings Changes

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

Belden Company Profile

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.