Foundry Partners LLC Sells 35,787 Shares of Belden Inc. (NYSE:BDC)

Foundry Partners LLC trimmed its holdings in Belden Inc. (NYSE:BDC - Free Report) by 35.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,075 shares of the industrial products company's stock after selling 35,787 shares during the period. Foundry Partners LLC owned 0.16% of Belden worth $7,328,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. 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 worth $71,000 after purchasing an additional 211 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of 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 acquiring an additional 199 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock valued at $135,000 after acquiring an additional 105 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Belden by 72.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company's stock worth $167,000 after purchasing an additional 599 shares during the last quarter. Finally, Matrix Trust Co boosted 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 worth $171,000 after purchasing an additional 1,312 shares during the period. Institutional investors and hedge funds own 98.75% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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. StockNews.com lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 4th. Finally, Benchmark reaffirmed a "buy" rating and issued a $130.00 price target on shares of Belden in a research report on Monday, February 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $130.25.

Belden Stock Performance

NYSE BDC traded up $0.19 during midday trading on Wednesday, hitting $87.29. The company had a trading volume of 59,090 shares, compared to its average volume of 271,609. The firm has a fifty day simple moving average of $106.30 and a two-hundred day simple moving average of $114.24. 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 stock has a market cap of $3.52 billion, a price-to-earnings ratio of 18.12 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last released 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%. Equities analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, March 13th. Belden's dividend payout ratio is 4.16%.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 2,400 shares of the business's 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 sale, the senior vice president now owns 23,243 shares in the company, valued at approximately $2,667,599.11. The trade was a 9.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashish Chand sold 14,535 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the sale, the chief executive officer now owns 107,129 shares of the company's stock, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is currently owned by corporate insiders.

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.