Belden Inc. (NYSE:BDC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in Belden Inc. (NYSE:BDC) by 26.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,052 shares of the industrial products company’s stock after selling 138,786 shares during the quarter. Victory Capital Management Inc. owned approximately 0.96% of Belden worth $43,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BDC. Prospera Private Wealth LLC acquired a new stake in Belden during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. raised its holdings 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 valued at $50,000 after acquiring an additional 209 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 199 shares in the last quarter. Principal Securities Inc. boosted its stake in Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 105 shares during the period. Finally, KBC Group NV grew its position in Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 274 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BDC has been the subject of a number of research analyst reports. Loop Capital reduced their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Belden currently has a consensus rating of “Buy” and a consensus price target of $130.25.

Insider Activity at Belden

In other news, Director Gregory James Mccray sold 4,200 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 4,199 shares in the company, valued at approximately $441,776.79. The trade was a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the transaction, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. The trade was a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,428 shares of company stock valued at $2,589,774. Insiders own 1.59% of the company’s stock.

Belden Price Performance

BDC opened at $104.46 on Friday. The stock has a fifty day moving average price of $113.84 and a 200 day moving average price of $114.98. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 21.72 and a beta of 1.02.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 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%. Analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden’s dividend payout ratio is currently 4.16%.

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.