Dana Investment Advisors Inc. Sells 9,318 Shares of Belden Inc. (NYSE:BDC)

Dana Investment Advisors Inc. reduced its stake in Belden Inc. (NYSE:BDC - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,682 shares of the industrial products company's stock after selling 9,318 shares during the period. Dana Investment Advisors Inc. owned 0.18% of Belden worth $8,072,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BDC. Arizona State Retirement System boosted its position in Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company's stock valued at $1,334,000 after purchasing an additional 129 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Belden during the fourth quarter valued at $2,841,000. Parkside Financial Bank & Trust grew its position in shares of Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock worth $94,000 after acquiring an additional 199 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Belden by 1.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 17,706 shares of the industrial products company's stock worth $1,994,000 after acquiring an additional 212 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 211 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, Director Jonathan C. Klein sold 2,129 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total value of $234,190.00. Following the completion of the sale, the director now owns 9,968 shares of the company's stock, valued at $1,096,480. This trade represents a 17.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,428 shares of company stock worth $2,589,774. Corporate insiders own 1.59% of the company's stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of several recent analyst reports. StockNews.com upgraded shares of Belden from a "buy" rating to a "strong-buy" rating in a research report on Monday, February 10th. Loop Capital decreased 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 reaffirmed a "buy" rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $130.25.

Belden Price Performance

Shares of Belden stock traded up $0.30 on Friday, hitting $104.46. The company had a trading volume of 290,939 shares, compared to its average volume of 255,367. 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 company has a market cap of $4.21 billion, a PE ratio of 21.72 and a beta of 1.02. The business has a 50-day simple moving average of $113.84 and a 200-day simple moving average of $114.98.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (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%. Research analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden's dividend payout ratio (DPR) is 4.16%.

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.