Silvercrest Asset Management Group LLC Has $65.85 Million Stock Position in Belden Inc. (NYSE:BDC)

Silvercrest Asset Management Group LLC lowered its position in Belden Inc. (NYSE:BDC) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,740 shares of the industrial products company’s stock after selling 119,659 shares during the period. Silvercrest Asset Management Group LLC owned about 1.45% of Belden worth $65,848,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Belden during the fourth quarter worth about $54,167,000. Polen Capital Management LLC bought a new stake in Belden during the 4th quarter worth approximately $2,723,000. Dynamic Technology Lab Private Ltd bought a new stake in Belden during the 4th quarter worth approximately $443,000. Dark Forest Capital Management LP acquired a new stake in Belden during the 4th quarter worth approximately $387,000. Finally, Barclays PLC raised its holdings in Belden by 189.4% during the 3rd quarter. Barclays PLC now owns 80,132 shares of the industrial products company’s stock worth $9,386,000 after buying an additional 52,439 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC opened at $111.95 on Friday. The firm has a 50-day moving average price of $100.59 and a two-hundred day moving average price of $111.12. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82. The company has a market capitalization of $4.42 billion, a P/E ratio of 23.27 and a beta of 1.24. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

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

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.05 per share. 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 (DPR) is currently 3.86%.

Insider Transactions at Belden

In other news, SVP Leah Tate sold 231 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the transaction, the senior vice president now owns 30,170 shares of the company’s stock, valued at $3,428,518.80. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gregory James Mccray sold 4,200 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 4,199 shares of the company’s stock, valued at approximately $441,776.79. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,259 shares of company stock valued at $2,340,577. Corporate insiders own 1.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Loop Capital reduced their price target 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. The Goldman Sachs Group reduced their target price on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $120.00 price target on shares of Belden in a report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $126.20.

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.