Boston Partners trimmed its position in Belden Inc. (NYSE:BDC – Free Report) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,421,850 shares of the industrial products company’s stock after selling 72,928 shares during the period. Boston Partners owned about 3.36% of Belden worth $134,676,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDC. Inspire Investing LLC increased its stake in shares of Belden by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 3,273 shares of the industrial products company’s stock valued at $313,000 after acquiring an additional 115 shares during the last quarter. Atlas Capital Advisors LLC grew its position in Belden by 2.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 5,346 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 121 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Belden by 2.8% during the 1st quarter. Altshuler Shaham Ltd now owns 4,909 shares of the industrial products company’s stock valued at $151,000 after buying an additional 133 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Belden by 11.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,342 shares of the industrial products company’s stock valued at $116,000 after buying an additional 143 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Belden by 88.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after buying an additional 241 shares during the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BDC has been the topic of several research analyst reports. Fox Advisors cut Belden from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 13th. The Goldman Sachs Group reduced their price objective on Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. UBS Group assumed coverage on Belden in a research note on Wednesday, September 27th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Loop Capital cut their target price on Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, October 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.83.
Belden Price Performance
Shares of BDC opened at $68.96 on Friday. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 11.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.95 and a current ratio of 2.55. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The stock’s fifty day moving average is $81.76 and its 200-day moving average is $87.67.
Belden Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, September 12th. Belden’s dividend payout ratio (DPR) is 3.24%.
In other news, SVP Leah Tate bought 1,550 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $64.53 per share, with a total value of $100,021.50. Following the completion of the acquisition, the senior vice president now directly owns 3,360 shares in the company, valued at $216,820.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company’s stock.
Belden Inc provides portfolio of signal transmission solutions 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, and home and building automation.
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