Envestnet Asset Management Inc. Acquires 3,795 Shares of Belden Inc. (NYSE:BDC)

Envestnet Asset Management Inc. grew its holdings in Belden Inc. (NYSE:BDC - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,530 shares of the industrial products company's stock after purchasing an additional 3,795 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Belden worth $4,564,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BDC. First Horizon Advisors Inc. increased its holdings in Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock worth $71,000 after buying an additional 211 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Belden by 31.3% in 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 period. Principal Securities Inc. raised its holdings in shares of Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 105 shares during the last quarter. Matrix Trust Co lifted its position in Belden by 624.8% during the fourth quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 1,312 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Belden by 138.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,696 shares of the industrial products company's stock worth $197,000 after purchasing an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Price Performance

NYSE BDC opened at $94.73 on Wednesday. The business's fifty day moving average is $101.85 and its 200 day moving average is $112.62. Belden Inc. has a fifty-two week low of $81.02 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The company has a market capitalization of $3.77 billion, a PE ratio of 19.69 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share 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%. Sell-side analysts predict that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were paid a $0.05 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden's dividend payout ratio (DPR) is presently 4.16%.

Analysts Set New Price Targets

BDC has been the subject of a number of research reports. StockNews.com lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 15th. Loop Capital lowered their target price on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group dropped their target price on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Benchmark reduced their price target on shares of Belden from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $126.20.

Insider Activity

In other Belden news, SVP Leah Tate sold 2,400 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the sale, the senior vice president now directly owns 23,243 shares of the company's stock, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock worth $2,589,774 in the last three months. Company insiders own 1.59% of the company's stock.

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.

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