Great Lakes Advisors LLC Increases Holdings in Belden Inc. (NYSE:BDC)

Great Lakes Advisors LLC lifted its position in shares of Belden Inc. (NYSE:BDC) by 85.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 107,392 shares of the industrial products company’s stock after purchasing an additional 49,422 shares during the quarter. Great Lakes Advisors LLC’s holdings in Belden were worth $10,272,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BDC. Envestnet Asset Management Inc. increased its stake in Belden by 1,283.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 488,729 shares of the industrial products company’s stock worth $3,442,000 after purchasing an additional 453,414 shares during the period. Norges Bank purchased a new position in Belden in the 4th quarter worth approximately $30,822,000. BlackRock Inc. increased its stake in Belden by 8.0% in the 1st quarter. BlackRock Inc. now owns 5,317,303 shares of the industrial products company’s stock worth $461,382,000 after purchasing an additional 392,689 shares during the period. Macquarie Group Ltd. increased its stake in Belden by 76.0% in the 1st quarter. Macquarie Group Ltd. now owns 428,491 shares of the industrial products company’s stock worth $37,180,000 after purchasing an additional 184,997 shares during the period. Finally, Millennium Management LLC increased its stake in Belden by 496.4% in the 4th quarter. Millennium Management LLC now owns 187,915 shares of the industrial products company’s stock worth $13,511,000 after purchasing an additional 156,406 shares during the period. 99.16% of the stock is owned by hedge funds and other institutional investors.

Belden Price Performance

Shares of BDC stock opened at $68.92 on Friday. The firm has a market cap of $2.87 billion, a P/E ratio of 11.17 and a beta of 1.25. Belden Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $99.13. The business’s 50 day moving average price is $81.76 and its 200-day moving average price is $87.72. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Wednesday, September 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. Belden’s dividend payout ratio is presently 3.24%.

Insider Activity at Belden

In other news, SVP Leah Tate purchased 1,550 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $64.53 per share, for a total transaction of $100,021.50. Following the completion of the transaction, the senior vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $216,820.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group decreased their price target on Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Fox Advisors cut Belden from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 13th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. Loop Capital cut their price objective on Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, October 16th. Finally, UBS Group assumed coverage on Belden in a research report on Wednesday, September 27th. They issued a “buy” rating and a $115.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

About Belden

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.