Belden Inc. (NYSE:BDC) Stake Trimmed by William Blair Investment Management LLC

William Blair Investment Management LLC cut its position in shares of Belden Inc. (NYSE:BDC) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 421,103 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. William Blair Investment Management LLC owned 1.04% of Belden worth $39,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Belden in the 4th quarter valued at approximately $35,403,000. Pzena Investment Management LLC boosted its position in shares of Belden by 32.5% in the fourth quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after buying an additional 224,486 shares during the period. Wellington Management Group LLP grew its holdings in shares of Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after buying an additional 149,263 shares in the last quarter. F M Investments LLC acquired a new position in Belden during the second quarter valued at $12,659,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in Belden by 1,724.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after acquiring an additional 98,503 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Stock Performance

Shares of BDC opened at $103.04 on Friday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 20.16 and a beta of 1.07. The company’s fifty day moving average is $98.47 and its 200-day moving average is $93.34. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $108.64.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $604.34 million for the quarter, compared to the consensus estimate of $574.32 million. During the same period in the prior year, the business posted $1.91 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, September 12th. Belden’s payout ratio is 3.91%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BDC shares. Benchmark lifted their target price on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Truist Financial lifted their target price on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Belden has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

Insider Buying and Selling

In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares in the company, valued at $667,444.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,137 shares of company stock worth $1,095,457. 1.59% of the stock is currently 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.