Pzena Investment Management LLC Has $493,000 Holdings in Belden Inc. (NYSE:BDC)

Pzena Investment Management LLC trimmed its position in shares of Belden Inc. (NYSE:BDC) by 95.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,378 shares of the industrial products company’s stock after selling 82,598 shares during the period. Pzena Investment Management LLC’s holdings in Belden were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Belden by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,261 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 1,975 shares during the last quarter. Haven Private LLC bought a new position in Belden during the fourth quarter worth about $559,000. Edgestream Partners L.P. acquired a new position in Belden during the fourth quarter worth approximately $1,553,000. Ashton Thomas Private Wealth LLC raised its stake in Belden by 5.4% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock valued at $257,000 after buying an additional 116 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Belden in the fourth quarter valued at approximately $6,301,000. 98.75% of the stock is owned by institutional investors.

Belden Stock Performance

NYSE:BDC opened at $102.11 on Wednesday. The stock has a 50 day simple moving average of $113.41 and a 200 day simple moving average of $115.00. The stock has a market cap of $4.11 billion, a P/E ratio of 21.23 and a beta of 1.02. Belden Inc. has a 1-year low of $80.90 and a 1-year high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. Research analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

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

Wall Street Analysts Forecast Growth

BDC has been the topic of a number of recent analyst 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 report on Tuesday, February 11th. Benchmark reiterated 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 report on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $130.25.

Insider Activity

In other Belden news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the sale, the chief executive officer now directly owns 107,129 shares in the company, valued at $11,939,527.05. This represents a 11.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leah Tate sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 owns 23,243 shares of the company’s stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,428 shares of company stock worth $2,589,774. Corporate insiders own 1.59% of the company’s stock.

Belden Company 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.