Southernsun Asset Management LLC Boosts Position in Belden Inc. (NYSE:BDC)

Southernsun Asset Management LLC boosted its position in shares of Belden Inc. (NYSE:BDC) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 474,910 shares of the industrial products company’s stock after purchasing an additional 616 shares during the quarter. Belden comprises 6.7% of Southernsun Asset Management LLC’s holdings, making the stock its 2nd biggest position. Southernsun Asset Management LLC’s holdings in Belden were worth $53,480,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Principal Securities Inc. lifted its holdings in Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after buying an additional 105 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings 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 purchasing an additional 116 shares during the last quarter. Arizona State Retirement System boosted its holdings in Belden by 1.1% during the fourth quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock worth $1,334,000 after buying an additional 129 shares during the last quarter. Mariner LLC grew its position in shares of Belden by 6.7% during the 4th quarter. Mariner LLC now owns 2,190 shares of the industrial products company’s stock worth $247,000 after buying an additional 137 shares during the period. Finally, Parkside Financial Bank & Trust increased 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 acquiring an additional 199 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Trading Down 1.8 %

BDC opened at $92.34 on Tuesday. The firm’s fifty day simple moving average is $102.25 and its 200 day simple moving average is $112.74. The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.20 and a beta of 1.07. 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 Inc. has a 12 month low of $81.02 and a 12 month high of $131.82.

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 return on equity of 21.42% and a net margin of 8.06%. As a group, research analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, March 13th. Belden’s dividend payout ratio is currently 4.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark reduced their price objective on shares of Belden from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 10th. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 15th. Finally, Loop Capital reduced 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $126.20.

Insider Buying and Selling

In other news, Director Gregory James Mccray sold 4,200 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this link. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,428 shares of company stock worth $2,589,774. Corporate insiders own 1.59% of the company’s stock.

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.