Norges Bank Acquires Shares of 481,017 Belden Inc. (NYSE:BDC)

Norges Bank bought a new position in shares of Belden Inc. (NYSE:BDC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 481,017 shares of the industrial products company’s stock, valued at approximately $54,167,000. Norges Bank owned approximately 1.19% of Belden as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in Belden by 20.8% during the third quarter. BNP Paribas Financial Markets now owns 15,217 shares of the industrial products company’s stock worth $1,782,000 after buying an additional 2,623 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Belden by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,180 shares of the industrial products company’s stock worth $11,851,000 after acquiring an additional 674 shares during the period. Captrust Financial Advisors boosted its position in shares of Belden by 38.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,411 shares of the industrial products company’s stock valued at $634,000 after acquiring an additional 1,497 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Belden by 13.1% in the third quarter. HighTower Advisors LLC now owns 3,428 shares of the industrial products company’s stock valued at $402,000 after purchasing an additional 397 shares during the period. Finally, Janus Henderson Group PLC increased its position in Belden by 34.1% during the third quarter. Janus Henderson Group PLC now owns 34,635 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 8,805 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Down 4.3 %

Belden stock opened at $88.99 on Friday. The company has a market capitalization of $3.58 billion, a PE ratio of 18.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $131.82. The firm has a 50 day moving average price of $107.97 and a 200 day moving average price of $114.65.

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

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, March 13th. Belden’s payout ratio is 4.16%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. StockNews.com lowered Belden from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Loop Capital cut their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has a consensus rating of “Buy” and an average price target of $130.25.

Insider Activity at Belden

In related news, Director Gregory James Mccray sold 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the sale, the director now owns 4,199 shares of the company’s stock, valued at $441,776.79. This trade represents a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company’s stock, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,428 shares of company stock worth $2,589,774. Corporate insiders own 1.59% of the company’s stock.

Belden 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.