Great Lakes Advisors LLC Acquires 92,037 Shares of Belden Inc. (NYSE:BDC)

Great Lakes Advisors LLC raised its holdings in Belden Inc. (NYSE:BDC) by 169.6% in the 4th quarter, HoldingsChannel reports. The firm owned 146,317 shares of the industrial products company’s stock after purchasing an additional 92,037 shares during the quarter. Great Lakes Advisors LLC’s holdings in Belden were worth $16,477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BDC. Prospera Private Wealth LLC bought a new position in Belden in the 3rd quarter valued at $33,000. First Horizon Advisors Inc. raised its position in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 199 shares during the last quarter. Principal Securities Inc. raised its position in shares of Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 105 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 274 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, Director Gregory James Mccray sold 4,200 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the transaction, the director now directly owns 4,199 shares of the company’s stock, valued at approximately $441,776.79. The trade was a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now owns 23,243 shares of the company’s stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,428 shares of company stock valued at $2,589,774. Company insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Loop Capital dropped their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Benchmark restated a “buy” rating and set a $130.00 target price on shares of Belden in a research report 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 company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $130.25.

Belden Stock Down 0.3 %

Shares of Belden stock opened at $101.77 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a 12 month low of $80.90 and a 12 month high of $131.82. The business has a fifty day simple moving average of $113.19 and a 200 day simple moving average of $114.91. The stock has a market cap of $4.10 billion, a PE ratio of 21.16 and a beta of 1.02.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. Research analysts predict that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. Belden’s dividend payout ratio (DPR) is presently 4.16%.

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.