Wellington Management Group LLP Has $249.83 Million Stake in Belden Inc. (NYSE:BDC)

Wellington Management Group LLP cut its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 10.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,132,886 shares of the industrial products company's stock after selling 238,047 shares during the quarter. Wellington Management Group LLP owned 5.29% of Belden worth $249,825,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BDC. FMR LLC boosted its position in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock worth $525,485,000 after acquiring an additional 576,768 shares during the period. F M Investments LLC acquired a new stake in Belden during the 2nd quarter worth about $12,659,000. Foundry Partners LLC acquired a new stake in Belden during the 3rd quarter worth about $11,814,000. State Street Corp boosted its position in Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock worth $184,532,000 after acquiring an additional 100,145 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Belden during the 3rd quarter valued at about $82,320,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Doug Zink sold 3,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares of the company's stock, valued at approximately $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.59% of the stock is owned by company insiders.

Belden Stock Performance

Shares of Belden stock traded down $0.36 on Monday, reaching $122.03. The stock had a trading volume of 229,370 shares, compared to its average volume of 267,195. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The business's 50-day moving average price is $120.10 and its two-hundred day moving average price is $106.16. The stock has a market cap of $4.92 billion, a P/E ratio of 28.46 and a beta of 1.08. Belden Inc. has a fifty-two week low of $71.19 and a fifty-two week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, sell-side analysts forecast that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. Belden's dividend payout ratio (DPR) is presently 4.65%.

Analyst Ratings Changes

A number of research firms have issued reports on BDC. Truist Financial lifted their target price on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Benchmark lifted their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has a consensus rating of "Buy" and a consensus price target of $122.75.

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.