Cresset Asset Management LLC Sells 62,269 Shares of Belden Inc. (NYSE:BDC)

Cresset Asset Management LLC trimmed its stake in shares of Belden Inc. (NYSE:BDC) by 54.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,235 shares of the industrial products company’s stock after selling 62,269 shares during the quarter. Cresset Asset Management LLC owned 0.13% of Belden worth $5,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Belden during the fourth quarter valued at about $26,000. Quarry LP increased 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 acquiring an additional 265 shares during the period. First Horizon Advisors Inc. lifted its stake in Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 211 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in 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 purchasing an additional 199 shares during the period. Finally, Principal Securities Inc. grew its position in shares of Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, CEO Ashish Chand sold 14,535 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 2,129 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the sale, the director now owns 9,968 shares of the company’s stock, valued at $1,096,480. This trade represents a 17.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock valued at $2,589,774 in the last quarter. Company insiders own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

BDC has been the subject of several research analyst reports. Benchmark reissued a “buy” rating and set a $120.00 price objective on shares of Belden in a research note on Monday. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group dropped their target price on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $126.20.

Belden Stock Performance

Shares of NYSE BDC opened at $105.11 on Thursday. The stock’s 50-day moving average is $99.78 and its 200 day moving average is $111.39. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 21.85 and a beta of 1.24. Belden Inc. has a 1-year low of $83.18 and a 1-year high of $131.82. 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 (NYSE:BDC) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12. The company had revenue of $624.86 million during the quarter, compared to analysts’ expectations of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The firm’s 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. On average, sell-side analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.19%. Belden’s payout ratio is currently 3.86%.

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.