Wellington Management Group LLP Sells 238,047 Shares of Belden Inc. (NYSE:BDC)

Wellington Management Group LLP lessened its position in shares of Belden Inc. (NYSE:BDC) by 10.0% in the third quarter, HoldingsChannel.com reports. The fund owned 2,132,886 shares of the industrial products company’s stock after selling 238,047 shares during the period. Wellington Management Group LLP owned about 0.05% of Belden worth $249,825,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Belden by 1.4% during the second quarter. SG Americas Securities LLC now owns 34,116 shares of the industrial products company’s stock worth $3,200,000 after purchasing an additional 481 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Belden during the 2nd quarter worth $371,000. Blue Trust Inc. boosted its stake in Belden by 666.9% in the second quarter. Blue Trust Inc. now owns 5,506 shares of the industrial products company’s stock valued at $510,000 after buying an additional 4,788 shares in the last quarter. Leeward Investments LLC MA grew its position in Belden by 5.6% in the second quarter. Leeward Investments LLC MA now owns 73,160 shares of the industrial products company’s stock valued at $6,862,000 after acquiring an additional 3,905 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Belden by 3.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock worth $2,816,000 after acquiring an additional 980 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

Belden stock opened at $122.39 on Monday. The business has a 50 day moving average of $120.10 and a 200-day moving average of $106.16. The company has a market capitalization of $4.94 billion, a P/E ratio of 28.46 and a beta of 1.08. Belden Inc. has a 1 year low of $69.33 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark boosted their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $122.75.

Insider Activity

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.59% 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.