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 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 sale, the chief executive officer now owns 107,129 shares in the company, valued at approximately $11,939,527.05. This trade represents a 11.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Belden Stock Down 2.1 %

BDC stock traded down $2.31 during midday trading on Tuesday, reaching $109.42. The company had a trading volume of 283,444 shares, compared to its average volume of 259,512. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $4.41 billion, a P/E ratio of 22.75 and a beta of 1.08. The company has a 50 day moving average of $115.11 and a two-hundred day moving average of $114.74.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities research analysts expect that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BDC. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Loop Capital dropped their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Belden has a consensus rating of “Buy” and a consensus price target of $130.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after purchasing an additional 223,887 shares in the last quarter. State Street Corp raised its holdings in Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after acquiring an additional 100,145 shares during the period. Geode Capital Management LLC raised its holdings in Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after acquiring an additional 5,727 shares during the period. Lord Abbett & CO. LLC raised its holdings in Belden by 0.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock worth $80,154,000 after acquiring an additional 3,692 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Belden by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company’s stock worth $78,309,000 after acquiring an additional 18,825 shares during the period. Institutional investors own 98.75% of the company’s stock.

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.