LSV Asset Management Reduces Stake in Belden Inc. (NYSE:BDC)

LSV Asset Management decreased its holdings in shares of Belden Inc. (NYSE:BDC) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,600 shares of the industrial products company’s stock after selling 6,100 shares during the quarter. LSV Asset Management owned approximately 0.19% of Belden worth $5,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BDC. Vanguard Group Inc. lifted its position in shares of Belden by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after buying an additional 92,544 shares during the last quarter. FMR LLC lifted its position in Belden by 1,365.5% in the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock valued at $99,075,000 after acquiring an additional 956,136 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Belden by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock valued at $79,216,000 after acquiring an additional 111,232 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Belden by 7.6% during the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock worth $68,552,000 after purchasing an additional 50,256 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Belden by 3.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company’s stock valued at $33,417,000 after purchasing an additional 12,844 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Belden

In related news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.59% of the company’s stock.

Belden Trading Up 1.2 %

NYSE:BDC opened at $91.50 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The stock’s 50 day simple moving average is $87.44 and its 200-day simple moving average is $78.58. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The firm has a market cap of $3.72 billion, a P/E ratio of 17.91 and a beta of 1.07.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The company had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. Belden’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. Equities analysts anticipate that Belden Inc. will post 5.77 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.22%. The ex-dividend date was Wednesday, March 13th. Belden’s payout ratio is 3.91%.

Analysts Set New Price Targets

BDC has been the topic of a number of research reports. Truist Financial raised their price target on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belden in a report on Monday. Finally, StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.40.

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.