Polen Capital Management LLC Buys Shares of 24,182 Belden Inc. (NYSE:BDC)

Polen Capital Management LLC bought a new stake in shares of Belden Inc. (NYSE:BDC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,182 shares of the industrial products company’s stock, valued at approximately $2,723,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in shares of Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares in the last quarter. State Street Corp raised its position in shares of Belden by 6.8% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in Belden by 0.6% during the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after purchasing an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Belden by 10.6% during the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after purchasing an additional 68,151 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Belden by 15.1% during the third quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after purchasing an additional 23,936 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 2,400 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 107,129 shares in the company, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,428 shares of company stock valued at $2,589,774 in the last three months. 1.59% of the stock is currently owned by company insiders.

Belden Stock Up 1.7 %

Shares of Belden stock opened at $101.55 on Monday. The stock’s fifty day moving average is $112.64 and its 200-day moving average is $114.88. The firm has a market capitalization of $4.09 billion, a PE ratio of 21.11 and a beta of 1.02. 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 Inc. has a 12-month low of $80.90 and a 12-month high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (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%. Equities analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

BDC has been the topic of a number of research reports. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of Belden in a research note on Monday, February 10th. Loop Capital dropped their price target 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, StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.