Wellington Management Group LLP Cuts Position in Belden Inc. (NYSE:BDC)

Wellington Management Group LLP decreased its position in Belden Inc. (NYSE:BDC - Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,777,902 shares of the industrial products company's stock after selling 354,984 shares during the period. Wellington Management Group LLP owned 4.42% of Belden worth $200,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of 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 purchasing an additional 100,145 shares in the last quarter. Geode Capital Management LLC raised its stake in Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock worth $112,580,000 after buying an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Belden by 10.6% during the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock worth $82,939,000 after buying an additional 68,151 shares during the period. Norges Bank purchased a new position in shares of Belden in the 4th quarter valued at $54,167,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Belden by 61.2% in the 4th quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock valued at $33,212,000 after acquiring an additional 111,952 shares during the period. Institutional investors own 98.75% of the company's stock.

Remove Ads

Belden Stock Up 0.5 %

NYSE BDC traded up $0.43 during trading on Monday, hitting $89.46. The company's stock had a trading volume of 542,639 shares, compared to its average volume of 271,198. Belden Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The company has a market cap of $3.60 billion, a PE ratio of 18.60 and a beta of 1.07. The business's 50 day simple moving average is $107.47 and its 200-day simple moving average is $114.61.

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 the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 0.22%. The ex-dividend date is Thursday, March 13th. Belden's dividend payout ratio is presently 4.16%.

Insider Transactions at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory James Mccray sold 4,200 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the transaction, the director now directly owns 4,199 shares of the company's stock, valued at approximately $441,776.79. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock worth $2,589,774 over the last three months. 1.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BDC shares. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Belden in a research report on Monday, February 10th. Loop Capital lowered their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Friday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $130.25.

Belden 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.