F M Investments LLC Sells 88,391 Shares of Belden Inc. (NYSE:BDC)

F M Investments LLC cut its stake in Belden Inc. (NYSE:BDC) by 64.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,642 shares of the industrial products company’s stock after selling 88,391 shares during the period. F M Investments LLC owned 0.12% of Belden worth $5,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of BDC. Norges Bank acquired a new position in shares of Belden in the 4th quarter valued at $54,167,000. FMR LLC increased its holdings in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after purchasing an additional 223,887 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Belden by 61.2% in the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company’s stock valued at $33,212,000 after buying an additional 111,952 shares during the period. State Street Corp boosted its holdings in Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after buying an additional 100,145 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its position in shares of Belden by 169.6% during the 4th quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company’s stock worth $16,477,000 after buying an additional 92,037 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Belden Stock Performance

NYSE BDC opened at $98.28 on Thursday. The firm has a 50-day moving average price of $105.55 and a two-hundred day moving average price of $114.02. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $3.96 billion, a P/E ratio of 20.43 and a beta of 1.07.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. Analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Announces Dividend

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

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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total value of $234,190.00. Following the transaction, the director now directly owns 9,968 shares in the company, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock valued at $2,589,774 over the last 90 days. Company insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

BDC has been the subject of a number of analyst reports. Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. StockNews.com cut shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 4th. Finally, Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Belden in a report on Monday, February 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $130.25.

Belden Company 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.