Allspring Global Investments Holdings LLC Sells 30,488 Shares of Belden Inc. (NYSE:BDC)

Allspring Global Investments Holdings LLC cut its position in shares of Belden Inc. (NYSE:BDC) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,035,827 shares of the industrial products company’s stock after selling 30,488 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.57% of Belden worth $117,256,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in Belden by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 148 shares during the last quarter. US Bancorp DE raised its position in Belden by 7.4% during the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 193 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Belden by 0.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock worth $4,068,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Price Performance

NYSE:BDC opened at $112.65 on Thursday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 23.42 and a beta of 1.08. Belden Inc. has a twelve month low of $78.64 and a twelve month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $116.63 and a 200-day simple moving average of $113.44.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share 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%. Analysts anticipate that Belden Inc. will post 7.76 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.18%. Belden’s payout ratio is currently 4.16%.

Insider Buying and Selling at Belden

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $130.00 price target on shares of Belden in a report on Monday. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Loop Capital dropped their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $130.25.

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.