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

Leeward Investments LLC MA lessened its position in Belden Inc. (NYSE:BDC) by 41.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,214 shares of the industrial products company’s stock after selling 51,854 shares during the quarter. Leeward Investments LLC MA owned 0.17% of Belden worth $5,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after purchasing an additional 92,544 shares during the last quarter. FMR LLC lifted its holdings in Belden by 1,365.5% in the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares during the period. Bank of New York Mellon Corp lifted its holdings in Belden by 15.7% in the third quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock worth $79,216,000 after buying an additional 111,232 shares during the period. Channing Capital Management LLC lifted its holdings in Belden by 7.6% in the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock worth $68,552,000 after buying an additional 50,256 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Belden by 3.9% in the third quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company’s stock worth $33,417,000 after buying an additional 12,844 shares during the period. Institutional investors own 98.75% of the company’s stock.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 in the company, valued at $1,791,835.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.42% of the company’s stock.

Belden Price Performance

BDC stock traded up $0.47 during mid-day trading on Friday, hitting $83.36. The company had a trading volume of 167,144 shares, compared to its average volume of 273,988. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 14.73 and a beta of 1.04. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $86.86 and a 200 day moving average price of $78.29.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. The firm had revenue of $551.24 million for the quarter, compared to analysts’ expectations of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business’s revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 EPS. On average, research analysts anticipate that Belden Inc. will post 5.33 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date 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 presently 3.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Monday. Truist Financial lifted their target price on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Belden currently has an average rating of “Moderate Buy” and a consensus price target of $102.25.

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.