CANADA LIFE ASSURANCE Co cut its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,001 shares of the industrial products company's stock after selling 6,830 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Belden worth $4,051,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of BDC. Polen Capital Management LLC bought a new stake in shares of Belden during the fourth quarter worth about $2,723,000. Norges Bank bought a new stake in Belden during the 4th quarter worth approximately $54,167,000. Dynamic Technology Lab Private Ltd bought a new stake in Belden during the 4th quarter worth approximately $443,000. Barclays PLC raised its stake in shares of Belden by 189.4% in the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock worth $9,386,000 after purchasing an additional 52,439 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Belden by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company's stock valued at $21,432,000 after purchasing an additional 23,936 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Belden
In other news, Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total value of $234,190.00. Following the transaction, the director now owns 9,968 shares in the company, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of Belden stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the completion of the transaction, the chief executive officer now directly owns 107,129 shares in the company, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,428 shares of company stock worth $2,589,774. 1.48% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group reduced 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. Loop Capital dropped their price target on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark reduced their price objective on Belden from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $126.20.
Get Our Latest Report on Belden
Belden Stock Performance
BDC traded up $0.36 on Monday, hitting $102.30. The company's stock had a trading volume of 176,221 shares, compared to its average volume of 273,968. The firm has a market cap of $4.07 billion, a P/E ratio of 21.27 and a beta of 1.07. The company's 50 day simple moving average is $100.97 and its 200-day simple moving average is $112.21. Belden Inc. has a 12 month low of $81.02 and a 12 month 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.
Belden (NYSE:BDC - Get Free Report) last announced its 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 return on equity of 21.42% and a net margin of 8.06%. Analysts forecast that Belden Inc. will post 7.07 EPS for the current year.
Belden Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, March 13th. Belden's payout ratio is currently 4.16%.
Belden Profile
(
Free Report)
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.
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