Allspring Global Investments Holdings LLC Has $124.90 Million Stake in Belden Inc. (NYSE:BDC)

Allspring Global Investments Holdings LLC lessened its holdings in Belden Inc. (NYSE:BDC - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,066,315 shares of the industrial products company's stock after selling 148,379 shares during the period. Allspring Global Investments Holdings LLC owned 2.62% of Belden worth $124,897,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of Belden in the third quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Belden during the second quarter valued at about $28,000. Whittier Trust Co. grew its position in shares of Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 298 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock worth $33,000 after purchasing an additional 117 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Belden during the 2nd quarter worth about $95,000. 98.75% of the stock is currently owned by institutional investors.

Belden Stock Performance

Shares of NYSE BDC traded down $2.05 during trading hours on Monday, reaching $117.84. The stock had a trading volume of 220,633 shares, compared to its average volume of 271,566. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 23.07 and a beta of 1.07. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $123.03. The business's fifty day moving average is $109.16 and its two-hundred day moving average is $98.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The company had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS. As a group, research analysts expect that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date was Thursday, September 12th. Belden's dividend payout ratio is 3.91%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark raised their target price on Belden from $115.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Truist Financial boosted their target price on shares of Belden from $123.00 to $124.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has an average rating of "Buy" and a consensus target price of $112.00.

Insider Buying and Selling at Belden

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of Belden stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now directly owns 39,385 shares of the company's stock, valued at approximately $3,812,074.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares in the company, valued at $667,444.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now directly owns 39,385 shares of the company's stock, valued at $3,812,074.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,318 shares of company stock worth $1,020,715 over the last three months. Company insiders own 1.59% of the company's stock.

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.