Belden Inc. (NYSE:BDC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Belden Inc. (NYSE:BDC) by 5.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 65,518 shares of the industrial products company’s stock after selling 4,109 shares during the period. Corebridge Financial Inc.’s holdings in Belden were worth $7,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Belden by 27.3% during the fourth quarter. LPL Financial LLC now owns 4,806 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,032 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Belden during the 4th quarter worth approximately $640,000. KLP Kapitalforvaltning AS purchased a new position in Belden in the 4th quarter valued at approximately $969,000. AXQ Capital LP acquired a new position in shares of Belden in the fourth quarter worth $209,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Belden during the fourth quarter worth $370,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Belden

In other news, Director Gregory James Mccray sold 4,200 shares of Belden stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the sale, the senior vice president now owns 23,243 shares of the company’s stock, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock valued at $2,589,774 in the last ninety days. Insiders own 1.59% of the company’s stock.

Belden Stock Down 3.3 %

Belden stock opened at $100.88 on Friday. The stock has a market cap of $4.06 billion, a PE ratio of 20.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock’s fifty day moving average is $110.24 and its two-hundred day moving average is $114.77. Belden Inc. has a 1-year low of $80.90 and a 1-year high of $131.82.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share 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%. On average, sell-side analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BDC. Loop Capital decreased their target price on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Belden in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $130.25.

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.