Great Lakes Advisors LLC Sells 59,697 Shares of Belden Inc $BDC

Great Lakes Advisors LLC lowered its stake in Belden Inc (NYSE:BDC) by 60.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,206 shares of the industrial products company’s stock after selling 59,697 shares during the period. Great Lakes Advisors LLC’s holdings in Belden were worth $4,715,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Belden by 134.1% during the second quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Employees Retirement System of Texas bought a new stake in Belden during the 2nd quarter valued at $52,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Belden during the 2nd quarter valued at $58,000. Osaic Holdings Inc. boosted its position in Belden by 40.7% during the 2nd quarter. Osaic Holdings Inc. now owns 581 shares of the industrial products company’s stock valued at $67,000 after buying an additional 168 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Belden by 30.9% in the 2nd quarter. GAMMA Investing LLC now owns 584 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 138 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Price Performance

BDC stock opened at $117.47 on Friday. Belden Inc has a 1 year low of $83.18 and a 1 year high of $133.77. The company has a market cap of $4.62 billion, a P/E ratio of 20.86 and a beta of 1.17. The firm has a 50-day moving average of $117.76 and a 200 day moving average of $120.64. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.99 and a quick ratio of 1.37.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. Belden had a return on equity of 23.95% and a net margin of 8.57%.The business had revenue of $698.22 million for the quarter, compared to analysts’ expectations of $679.61 million. During the same period in the previous year, the firm posted $1.70 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Belden Inc will post 7.07 EPS for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 11th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, December 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Belden’s payout ratio is currently 3.55%.

Insider Transactions at Belden

In other news, Director Jonathan C. Klein sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $124.19, for a total value of $372,570.00. Following the sale, the director directly owned 8,353 shares of the company’s stock, valued at $1,037,359.07. This represents a 26.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hiran Bhadra sold 1,600 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $120.00, for a total transaction of $192,000.00. Following the completion of the transaction, the senior vice president owned 26,119 shares of the company’s stock, valued at approximately $3,134,280. The trade was a 5.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,154 shares of company stock valued at $1,371,050 in the last three months. Company insiders own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BDC. Wall Street Zen raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st. Finally, Truist Financial increased their price objective on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Belden Company Profile

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.