Belden Inc. (NYSE:BDC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Belden Inc. (NYSE:BDCFree Report) by 77.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,861 shares of the industrial products company’s stock after selling 80,577 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Belden worth $2,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Belden during the first quarter valued at approximately $32,000. Quadrant Capital Group LLC raised its position in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. purchased a new position in Belden during the fourth quarter valued at approximately $72,000. TFO Wealth Partners LLC raised its position in Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 261 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BDC. Loop Capital lifted their price target on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. Truist Financial boosted their price objective on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Read Our Latest Analysis on BDC

Belden Price Performance

Shares of BDC traded up $0.44 during trading hours on Tuesday, hitting $94.87. 131,414 shares of the stock were exchanged, compared to its average volume of 264,557. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 18.57 and a beta of 1.07. The stock’s 50-day moving average price is $88.48 and its two-hundred day moving average price is $80.19.

Belden (NYSE:BDCGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Research analysts expect that Belden Inc. will post 5.77 earnings per share for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s payout ratio is 3.91%.

Insider Buying and Selling

In other Belden news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.59% of the stock is owned by company insiders.

About Belden

(Free Report)

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.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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