Belden Inc. (NYSE:BDC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Belden Inc. (NYSE:BDC) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,518 shares of the industrial products company’s stock after selling 4,109 shares during the quarter. Corebridge Financial Inc. owned approximately 0.16% of Belden worth $7,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BDC. FMR LLC raised its position in Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after acquiring an additional 576,768 shares during the period. State Street Corp raised its position in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares during the last quarter. Geode Capital Management LLC lifted its stake in Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after buying an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after buying an additional 68,151 shares in the last quarter. Finally, Boston Partners boosted its holdings in Belden by 43.1% in the 4th quarter. Boston Partners now owns 230,170 shares of the industrial products company’s stock worth $26,387,000 after buying an additional 69,365 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Trading Down 3.3 %

Shares of Belden stock opened at $100.88 on Friday. Belden Inc. has a 1-year low of $80.90 and a 1-year high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock has a market cap of $4.06 billion, a P/E ratio of 20.97 and a beta of 1.02. The stock’s 50 day simple moving average is $110.24 and its 200-day simple moving average is $114.77.

Belden (NYSE:BDC) last issued its earnings results 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%. Analysts predict that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

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

Wall Street Analyst Weigh In

BDC has been the topic of several research reports. Loop Capital decreased their target price on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Belden in a report on Monday, February 10th. Finally, StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Belden has a consensus rating of “Buy” and an average target price of $130.25.

Insider Activity

In other news, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan C. Klein sold 2,129 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total value of $234,190.00. Following the sale, the director now directly owns 9,968 shares of the company’s stock, valued at $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock valued at $2,589,774 in the last 90 days. Company 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.