Renaissance Group LLC Purchases 4,006 Shares of Belden Inc. (NYSE:BDC)

Renaissance Group LLC lifted its position in shares of Belden Inc. (NYSE:BDC) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,275 shares of the industrial products company’s stock after purchasing an additional 4,006 shares during the quarter. Renaissance Group LLC’s holdings in Belden were worth $4,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BDC. Aster Capital Management DIFC Ltd bought a new position in shares of Belden during the 4th quarter worth about $26,000. First Horizon Advisors Inc. lifted its holdings in shares of Belden by 49.9% during the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 211 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 199 shares in the last quarter. Principal Securities Inc. lifted its holdings in Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Belden by 72.3% during the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock worth $167,000 after buying an additional 599 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BDC has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Belden in a report on Monday, February 10th. Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $130.25.

Insider Activity at Belden

In other news, Director Gregory James Mccray sold 4,200 shares of Belden stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now owns 4,199 shares in the company, valued at $441,776.79. The trade was a 50.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 owns 107,129 shares in the company, valued at $11,939,527.05. This trade represents a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,428 shares of company stock worth $2,589,774 in the last quarter. Corporate insiders own 1.59% of the company’s stock.

Belden Stock Up 0.5 %

Shares of Belden stock opened at $89.46 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a 12 month low of $80.90 and a 12 month high of $131.82. The stock has a market cap of $3.60 billion, a PE ratio of 18.60 and a beta of 1.07. The business has a fifty day simple moving average of $107.47 and a 200 day simple moving average of $114.61.

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

Belden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, March 13th. Belden’s dividend payout ratio (DPR) is 4.16%.

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.