Leeward Investments LLC MA Sells 51,854 Shares of Belden Inc. (NYSE:BDC)

Leeward Investments LLC MA cut its holdings in Belden Inc. (NYSE:BDC) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,214 shares of the industrial products company’s stock after selling 51,854 shares during the quarter. Leeward Investments LLC MA’s holdings in Belden were worth $5,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. South Dakota Investment Council increased its holdings in shares of Belden by 20.5% during the fourth quarter. South Dakota Investment Council now owns 64,634 shares of the industrial products company’s stock valued at $4,993,000 after acquiring an additional 11,000 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Belden by 588.5% during the fourth quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock valued at $2,673,000 after acquiring an additional 29,585 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Belden during the fourth quarter valued at approximately $1,733,000. Natixis Advisors L.P. increased its holdings in shares of Belden by 75.4% during the third quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock valued at $2,616,000 after acquiring an additional 11,651 shares in the last quarter. Finally, Channing Capital Management LLC increased its holdings in shares of Belden by 7.6% during 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 acquiring an additional 50,256 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial upped their price target on Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com downgraded Belden from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.25.

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of the firm’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 directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.42% of the stock is currently owned by insiders.

Belden Price Performance

Shares of BDC traded up $0.47 during trading hours on Friday, reaching $83.36. 167,144 shares of the company’s stock traded hands, compared to its average volume of 273,988. The stock has a market cap of $3.39 billion, a PE ratio of 14.73 and a beta of 1.04. 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 firm’s 50 day simple moving average is $86.86 and its 200-day simple moving average is $78.29. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $99.13.

Belden (NYSE:BDC) last issued 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 company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.75 EPS. Equities analysts expect that Belden Inc. will post 5.33 EPS for the current year.

Belden Announces Dividend

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

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.