Wedge Capital Management LLP NC sells 2,933 shares of Belden Inc. (NYSE: BDC)


Wedge Capital Management LLP NC reduced its holdings of shares of Belden Inc. (NYSE: BDC – Get Rating) by 2.1% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 133,926 shares of the industrial products company after selling 2,933 shares during the period. Wedge Capital Management LLP NC’s holdings in Belden were worth $7,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also increased or reduced their stake in the company. Victory Capital Management Inc. increased its position in Belden shares by 14.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,054,821 shares of the industrial products company worth $135,064,000 after acquiring 266,033 additional shares last quarter. Dimensional Fund Advisors LP raised its position in Belden shares by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,380,276 shares of the industrial products company worth $90,721,000 after acquiring 19,193 additional shares last quarter. State Street Corp raised its position in Belden shares by 3.2% in the fourth quarter. State Street Corp now owns 1,367,208 shares of the industrial products company worth $89,935,000 after acquiring 41,911 additional shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Belden in Q4 for a value of approximately $74,932,000. Finally, Silvercrest Asset Management Group LLC purchased a new position in Belden stock in Q4 worth approximately $56,653,000. 99.58% of the shares are held by institutional investors and hedge funds.

Several brokerages have recently published reports on BDC. TheStreet upgraded Belden from a ‘c+’ to a ‘b-‘ rating in a Thursday, May 26 research report. StockNews.com upgraded Belden from a “buy” rating to a “strong buy” rating in a Thursday, April 21 research rating. Goldman Sachs Group downgraded Belden from a ‘sell’ rating to a ‘neutral’ rating and lowered its price target for the stock from $57.00 to $55.00 in a Tuesday research note April 19. Truist Financial cut its price target on Belden from $86.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, April 8. Finally, Canaccord Genuity Group raised its price target on Belden from $82.00 to $88.00 and gave the stock a “buy” rating in a Thursday, May 5 research note. One financial analyst gave the stock a hold rating, three gave the company a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $72.50.

BDC shares opened at $52.27 on Friday. The company’s fifty-day simple moving average is $54.06 and its two-hundred-day simple moving average is $56.49. The company has a current ratio of 2.39, a quick ratio of 1.71 and a debt ratio of 1.28. Belden Inc. has a 12-month low of $45.31 and a 12-month high of $68.87. The company has a market capitalization of $2.31 billion, a price-earnings ratio of 33.51 and a beta of 1.32.

Belden (NYSE:BDC – Get Rating) last released its results on Wednesday, May 4. The industrial products company reported EPS of $1.31 for the quarter, beating the consensus estimate of $1.09 by $0.22. Belden had a return on equity of 25.14% and a net margin of 2.86%. The company posted revenue of $610.40 million for the quarter, versus a consensus estimate of $572.62 million. During the same period last year, the company posted EPS of $0.94. The company’s revenue increased by 20.0% compared to the same quarter last year. As a group, research analysts expect Belden Inc. to post EPS of 5.75 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 7. Shareholders of record on Thursday, June 16 will receive a dividend of $0.05 per share. The ex-dividend date is Wednesday, June 15. This represents an annualized dividend of $0.20 and a yield of 0.38%. Belden’s dividend payout ratio is 12.82%.

Separately, Executive Vice President Ashish Chand purchased 9,949 shares in a trade dated Friday, June 17. The shares were purchased at an average cost of $50.36 per share, with a total value of $501,031.64. Following the acquisition, the executive vice president now directly owns 55,772 shares of the company, valued at $2,808,677.92. The acquisition was disclosed in a legal filing with the SEC, accessible via this link. 1.06% of the shares are held by insiders.

Belden Company Profile (Get an evaluation)

Belden Inc provides a portfolio of signal transmission solutions in the Americas, Europe, Middle East, Africa and Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, as well as signal extenders and matrix switching systems intended for use in applications such as local area networks, data centers, access control, 5G, fiber and home automation and home automation.

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Institutional ownership by quarter for Belden (NYSE: BDC)



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