Alliancebernstein L.P. Sells 149,953 Shares of Belden Inc. (NYSE:BDC)

Alliancebernstein L.P. trimmed its position in Belden Inc. (NYSE:BDC - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 783,661 shares of the industrial products company's stock after selling 149,953 shares during the period. Alliancebernstein L.P. owned about 1.94% of Belden worth $88,248,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BDC. First Horizon Advisors Inc. boosted its holdings in Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 211 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 199 shares during the last quarter. Principal Securities Inc. grew its position in shares of Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock worth $135,000 after buying an additional 105 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Belden by 72.3% during the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company's stock worth $167,000 after buying an additional 599 shares during the last quarter. Finally, Matrix Trust Co lifted its holdings in Belden by 624.8% in the fourth quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company's stock valued at $171,000 after buying an additional 1,312 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Belden Trading Up 2.8 %

Belden stock traded up $2.48 during mid-day trading on Tuesday, hitting $92.22. 62,495 shares of the company's stock were exchanged, compared to its average volume of 294,808. Belden Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $131.82. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.71 billion, a P/E ratio of 19.17 and a beta of 1.07. The company's 50 day simple moving average is $107.47 and its 200-day simple moving average is $114.61.

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 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%. On average, equities analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.22%. The ex-dividend date is Thursday, March 13th. Belden's payout ratio is 4.16%.

Insiders Place Their Bets

In other Belden news, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was 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 of the company's stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory James Mccray sold 4,200 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock valued at $2,589,774 in the last quarter. 1.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

BDC has been the subject of several recent research reports. StockNews.com cut shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Friday. Loop Capital dropped their price objective on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Benchmark restated a "buy" rating and set a $130.00 target price on shares of Belden in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $130.25.

Belden 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.