William Blair Investment Management LLC trimmed its stake in shares of Belden Inc (NYSE:BDC – Free Report) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 215,153 shares of the industrial products company’s stock after selling 22,143 shares during the period. William Blair Investment Management LLC’s holdings in Belden were worth $25,076,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Belden by 12,950.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 259 shares during the period. EverSource Wealth Advisors LLC increased its position in Belden by 134.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 165 shares during the period. Smartleaf Asset Management LLC increased its position in Belden by 234.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 331 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 232 shares during the period. Hantz Financial Services Inc. increased its position in Belden by 152.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 457 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 276 shares during the period. Finally, Torren Management LLC acquired a new stake in Belden in the 4th quarter valued at approximately $62,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Belden Stock Down 0.3%
BDC opened at $105.73 on Tuesday. Belden Inc has a 12 month low of $101.00 and a 12 month high of $159.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.09 and a quick ratio of 1.40. The stock has a market cap of $4.12 billion, a P/E ratio of 17.80 and a beta of 1.18. The stock’s 50 day moving average price is $117.66 and its 200 day moving average price is $121.44.
Belden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Belden’s dividend payout ratio (DPR) is presently 3.37%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Weiss Ratings cut Belden from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Benchmark raised their target price on Belden from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Belden has an average rating of “Moderate Buy” and a consensus target price of $162.50.
Read Our Latest Analysis on Belden
About Belden
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.
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