Channing Capital Management LLC Increases Stock Holdings in Belden Inc. (NYSE:BDC)

Channing Capital Management LLC increased its stake in shares of Belden Inc. (NYSE:BDC) by 29.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 919,066 shares of the industrial products company’s stock after purchasing an additional 209,052 shares during the quarter. Belden makes up approximately 2.1% of Channing Capital Management LLC’s holdings, making the stock its 17th largest holding. Channing Capital Management LLC’s holdings in Belden were worth $70,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. South Dakota Investment Council increased its position in Belden by 20.5% during the 4th quarter. South Dakota Investment Council now owns 64,634 shares of the industrial products company’s stock worth $4,993,000 after purchasing an additional 11,000 shares in the last quarter. State of Alaska Department of Revenue increased its position in Belden by 588.5% during the 4th quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 29,585 shares in the last quarter. Duality Advisers LP purchased a new stake in Belden during the 4th quarter worth about $1,733,000. State of New Jersey Common Pension Fund D increased its position in Belden by 41.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 37,671 shares of the industrial products company’s stock worth $2,910,000 after purchasing an additional 10,975 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in Belden by 75.4% during the 3rd quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock worth $2,616,000 after purchasing an additional 11,651 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial lifted their price objective on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the transaction, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.59% of the company’s stock.

Belden Trading Down 0.8 %

BDC traded down $0.68 during midday trading on Friday, hitting $88.23. The company’s stock had a trading volume of 278,817 shares, compared to its average volume of 234,599. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02. The firm has a market cap of $3.59 billion, a P/E ratio of 17.27 and a beta of 1.07. The firm has a 50-day moving average price of $87.12 and a two-hundred day moving average price of $78.23. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. On average, research analysts anticipate that Belden Inc. will post 5.77 earnings per share for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s dividend payout ratio is currently 3.91%.

Belden 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.