Parkside Financial Bank & Trust Reduces Position in Belden Inc. (NYSE:BDC)

Parkside Financial Bank & Trust decreased its stake in shares of Belden Inc. (NYSE:BDC) by 65.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 545 shares of the industrial products company’s stock after selling 1,044 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Belden were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BDC. FMR LLC increased its position in Belden by 1,365.5% during the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Belden by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock valued at $79,216,000 after purchasing an additional 111,232 shares during the period. Vanguard Group Inc. grew its position in shares of Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after purchasing an additional 92,544 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Belden by 156.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 104,438 shares of the industrial products company’s stock valued at $8,068,000 after purchasing an additional 63,716 shares during the period. Finally, Channing Capital Management LLC grew its position in shares of Belden by 7.6% in the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock valued at $68,552,000 after purchasing an additional 50,256 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial lifted their price objective on Belden from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com downgraded Belden from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Belden presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by insiders.

Belden Price Performance

BDC stock opened at $83.36 on Friday. The stock has a 50-day moving average price of $86.86 and a two-hundred day moving average price of $78.29. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. The company has a market cap of $3.39 billion, a PE ratio of 14.73 and a beta of 1.04.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.34. The firm had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. As a group, research analysts predict that Belden Inc. will post 5.33 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio is presently 3.53%.

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.