Great Lakes Advisors LLC Buys 92,037 Shares of Belden Inc. (NYSE:BDC)

Great Lakes Advisors LLC lifted its stake in Belden Inc. (NYSE:BDC - Free Report) by 169.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,317 shares of the industrial products company's stock after acquiring an additional 92,037 shares during the period. Great Lakes Advisors LLC owned 0.36% of Belden worth $16,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC raised its stake in shares of Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after acquiring an additional 576,768 shares in the last quarter. State Street Corp grew its holdings in Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after buying an additional 100,145 shares during the last quarter. Geode Capital Management LLC grew its holdings in Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock valued at $112,580,000 after buying an additional 5,727 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after buying an additional 68,151 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Belden by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company's stock valued at $21,432,000 after buying an additional 23,936 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Belden Price Performance

Shares of NYSE:BDC opened at $101.77 on Thursday. Belden Inc. has a 1-year low of $80.90 and a 1-year high of $131.82. The firm has a market capitalization of $4.10 billion, a PE ratio of 21.16 and a beta of 1.02. The business's 50 day moving average is $113.19 and its 200-day moving average is $114.91. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

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Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 0.20%. Belden's dividend payout ratio (DPR) is presently 4.16%.

Insider Buying and Selling

In related news, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leah Tate sold 2,400 shares of the firm's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock worth $2,589,774 in the last 90 days. 1.59% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on BDC shares. Benchmark reaffirmed a "buy" rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. StockNews.com raised Belden from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, 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. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $130.25.

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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