Belden Inc. (NYSE:BDC) SVP Sells $275,448.00 in Stock

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 2,400 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Belden Stock Down 1.3 %

BDC opened at $112.56 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43. The business has a 50 day simple moving average of $116.83 and a 200-day simple moving average of $113.44. The stock has a market capitalization of $4.54 billion, a P/E ratio of 23.40 and a beta of 1.08. Belden Inc. has a 12 month low of $78.64 and a 12 month high of $131.82.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating 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, equities analysts anticipate that Belden Inc. will post 7.76 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, December 12th. Belden’s payout ratio is currently 4.16%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BDC. Truist Financial increased their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a report on Monday. Loop Capital reduced their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $130.00 price target on shares of Belden in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $130.25.

Hedge Funds Weigh In On Belden

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Belden in the 3rd quarter valued at approximately $33,000. First Horizon Advisors Inc. increased its position in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares in the last quarter. Finally, Principal Securities Inc. increased its position in Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after buying an additional 105 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.