Belden Inc. (NYSE:BDC) CEO Sells $1,619,925.75 in Stock

Belden Inc. (NYSE:BDC) CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This trade represents a 11.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Belden Stock Performance

NYSE BDC opened at $107.06 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The stock’s fifty day moving average is $114.86 and its two-hundred day moving average is $114.65. The firm has a market capitalization of $4.31 billion, a P/E ratio of 22.26 and a beta of 1.08. Belden Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $131.82.

Belden (NYSE:BDC) last announced its quarterly earnings results 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 net margin of 8.06% and a return on equity of 21.42%. On average, research analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden’s dividend payout ratio is currently 4.16%.

Analysts Set New Price Targets

BDC has been the subject of several research reports. Truist Financial boosted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Loop Capital reduced their price objective on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Benchmark reaffirmed a “buy” rating and set a $130.00 target price 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 report on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Belden has a consensus rating of “Buy” and an average target price of $130.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Principal Securities Inc. raised its position in Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in Belden by 5.4% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock valued at $257,000 after buying an additional 116 shares during the last quarter. Arizona State Retirement System boosted its stake in Belden by 1.1% during the fourth quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock worth $1,334,000 after buying an additional 129 shares during the period. Baird Financial Group Inc. increased its position in shares of Belden by 4.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,802 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 130 shares during the last quarter. Finally, Mariner LLC raised its position in Belden by 6.7% in the fourth quarter. Mariner LLC now owns 2,190 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 137 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.