Rhumbline Advisers Sells 2,448 Shares of Belden Inc. (NYSE:BDC)

Rhumbline Advisers trimmed its holdings in Belden Inc. (NYSE:BDC) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 131,977 shares of the industrial products company’s stock after selling 2,448 shares during the period. Rhumbline Advisers’ holdings in Belden were worth $14,862,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BDC. Creative Planning lifted its holdings in shares of Belden by 40.1% in the 3rd quarter. Creative Planning now owns 19,941 shares of the industrial products company’s stock worth $2,336,000 after acquiring an additional 5,705 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Belden in the third quarter worth $82,320,000. Dakota Wealth Management purchased a new position in shares of Belden in the third quarter worth $246,000. State of Alaska Department of Revenue increased its stake in shares of Belden by 0.6% in the third quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock worth $4,068,000 after buying an additional 215 shares during the period. Finally, US Bancorp DE increased its stake in shares of Belden by 7.4% in the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock worth $327,000 after buying an additional 193 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Loop Capital decreased their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Truist Financial lifted their target price on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Belden presently has an average rating of “Buy” and an average price target of $130.25.

Belden Stock Down 1.9 %

Shares of Belden stock opened at $111.41 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $115.53 and its two-hundred day simple moving average is $114.36. The company has a market cap of $4.49 billion, a P/E ratio of 23.16 and a beta of 1.08. Belden Inc. has a 12-month low of $80.73 and a 12-month high of $131.82.

Belden (NYSE:BDC) last issued its quarterly earnings data 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 net margin of 8.06% and a return on equity of 21.42%. Research analysts anticipate that Belden Inc. will post 7.07 EPS for the current year.

Insider Transactions at Belden

In other news, SVP Leah Tate sold 2,400 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.59% of the company’s stock.

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.