Belden Inc. (NYSE:BDC) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lowered its stake in shares of Belden Inc. (NYSE:BDC) by 22.3% in the fourth quarter, HoldingsChannel reports. The firm owned 552,397 shares of the industrial products company’s stock after selling 158,238 shares during the quarter. Channing Capital Management LLC’s holdings in Belden were worth $62,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in BDC. FMR LLC lifted its stake in Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after buying an additional 576,768 shares during the last quarter. State Street Corp lifted its position 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 purchasing an additional 100,145 shares during the last quarter. Geode Capital Management LLC lifted its position 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 purchasing an additional 5,727 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Belden by 10.6% during 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 purchasing an additional 68,151 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Belden by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after purchasing an additional 23,936 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Belden Trading Down 3.2 %

Belden stock opened at $101.11 on Tuesday. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82. The stock has a market capitalization of $4.07 billion, a PE ratio of 21.02 and a beta of 1.02. The firm has a 50 day simple moving average of $113.62 and a 200-day simple moving average of $115.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, March 13th. Belden’s dividend payout ratio (DPR) is presently 4.16%.

Analyst Ratings Changes

BDC has been the topic of a number of recent analyst reports. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Finally, Loop Capital decreased their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $130.25.

Insider Buying and Selling at Belden

In other news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction 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 sale, the chief executive officer now owns 107,129 shares in the company, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction 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 completion of the transaction, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by 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.