Front Street Capital Management Inc. Decreases Stake in Belden Inc. (NYSE:BDC)

Front Street Capital Management Inc. cut its holdings in Belden Inc. (NYSE:BDC - Free Report) by 61.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,258 shares of the industrial products company's stock after selling 3,588 shares during the period. Front Street Capital Management Inc.'s holdings in Belden were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Belden during the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. lifted its holdings in shares of 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 during the period. Parkside Financial Bank & Trust grew its position 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 worth $94,000 after buying an additional 199 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Belden by 9.6% in the fourth 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. Finally, Matrix Trust Co lifted its stake in Belden by 624.8% in the fourth quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company's stock worth $171,000 after acquiring an additional 1,312 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Price Performance

Shares of BDC stock traded down $1.68 on Monday, reaching $92.34. 163,153 shares of the company were exchanged, compared to its average volume of 274,535. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 19.20 and a beta of 1.07. Belden Inc. has a 1 year low of $81.02 and a 1 year high of $131.82. The business has a 50-day moving average price of $102.25 and a 200 day moving average price of $112.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92.

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, 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 research analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. Belden's payout ratio is 4.16%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now directly owns 23,243 shares of the company's stock, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock worth $2,589,774 in the last three months. 1.59% of the stock is 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.