Belden Inc. (NYSE:BDC) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in Belden Inc. (NYSE:BDC) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 62,982 shares of the industrial products company’s stock after selling 1,953 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Belden were worth $7,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in Belden in the 4th quarter valued at about $26,000. Quarry LP raised its holdings in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after buying an additional 265 shares during the period. First Horizon Advisors Inc. raised its holdings in Belden by 49.9% during the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after buying an additional 211 shares during the period. Parkside Financial Bank & Trust raised its holdings in Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares during the period. Finally, Principal Securities Inc. raised 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 worth $135,000 after buying an additional 105 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BDC shares. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group cut their price objective on Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Benchmark restated a “buy” rating and set a $120.00 price objective on shares of Belden in a report on Monday, May 5th. Finally, Loop Capital cut their price objective on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $126.20.

Belden Price Performance

Shares of BDC opened at $112.47 on Friday. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 23.38 and a beta of 1.24. Belden Inc. has a fifty-two week low of $83.18 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The business’s 50-day moving average is $100.80 and its 200-day moving average is $111.03.

Belden (NYSE:BDC) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12. The company had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Equities research analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. Belden’s dividend payout ratio is 3.86%.

Insider Activity

In other Belden news, CEO Ashish Chand sold 14,535 shares of the company’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 completion of the sale, the chief executive officer now owns 107,129 shares of the company’s stock, valued at $11,939,527.05. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory James Mccray sold 4,200 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the sale, the director now directly owns 4,199 shares of the company’s stock, valued at $441,776.79. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,259 shares of company stock worth $2,340,577 in the last 90 days. Company insiders own 1.48% of the company’s stock.

Belden 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.