First Eagle Investment Management LLC Lowers Stake in Belden Inc. (NYSE:BDC)

First Eagle Investment Management LLC trimmed its holdings in Belden Inc. (NYSE:BDC - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,791 shares of the industrial products company's stock after selling 5,000 shares during the quarter. First Eagle Investment Management LLC owned about 0.21% of Belden worth $9,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of Belden in the 3rd quarter worth about $33,000. First Horizon Advisors Inc. increased its stake in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 209 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Belden by 31.3% during 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 in the last quarter. Principal Securities Inc. increased its stake in Belden by 9.6% during the 4th 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 in the last quarter. Finally, KBC Group NV increased its stake in Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company's stock valued at $148,000 after purchasing an additional 274 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Remove Ads

Belden Stock Performance

Shares of NYSE BDC traded up $2.88 during trading on Wednesday, reaching $106.58. 229,187 shares of the company traded hands, compared to its average volume of 254,569. The firm has a 50 day simple moving average of $112.16 and a 200-day simple moving average of $114.82. 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 stock has a market capitalization of $4.29 billion, a PE ratio of 22.16 and a beta of 1.02. Belden Inc. has a 52-week low of $80.90 and a 52-week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last announced 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 net margin of 8.06% and a return on equity of 21.42%. Equities research analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Announces Dividend

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

Insider Buying and Selling

In related news, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the director now directly owns 9,968 shares in the company, valued at $1,096,480. This represents a 17.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BDC. StockNews.com upgraded shares of Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Loop Capital reduced their price objective on shares of Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Benchmark restated a "buy" rating and set a $130.00 price objective 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 issued a strong buy rating to the company. According to MarketBeat.com, Belden presently has a consensus rating of "Buy" and a consensus target price of $130.25.

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.