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 dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now owns 23,243 shares of the company’s stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Belden Trading Up 1.6 %

Shares of BDC stock opened at $114.46 on Friday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 23.80 and a beta of 1.08. The stock has a 50-day moving average of $116.47 and a 200-day moving average of $113.45. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.87. Belden Inc. has a 1-year low of $78.64 and a 1-year high of $131.82.

Belden (NYSE:BDC) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.92 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%. On average, equities research analysts forecast that Belden Inc. will post 7.76 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio is currently 4.16%.

Institutional Investors Weigh In On Belden

Several large investors have recently added to or reduced their stakes in BDC. FMR LLC grew its stake in Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after purchasing an additional 576,768 shares during the period. Norges Bank acquired a new stake in Belden in the fourth quarter valued at approximately $54,167,000. JPMorgan Chase & Co. grew its stake in Belden by 61.2% in the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company’s stock valued at $33,212,000 after acquiring an additional 111,952 shares during the period. Foundry Partners LLC acquired a new stake in Belden in the third quarter valued at approximately $11,814,000. Finally, State Street Corp grew its stake in Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after acquiring an additional 100,145 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a research report on Monday. Loop Capital decreased their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Belden currently has a consensus rating of “Buy” and a consensus 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.