Insider Selling: Belden Inc. (NYSE:BDC) CAO Sells 1,324 Shares of Stock

Belden Inc. (NYSE:BDC) CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the transaction, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Belden Stock Performance

NYSE:BDC opened at $131.40 on Thursday. The firm’s fifty day simple moving average is $112.63 and its 200 day simple moving average is $100.69. Belden Inc. has a twelve month low of $63.00 and a twelve month high of $131.82. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.30 billion, a P/E ratio of 30.56 and a beta of 1.07.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same period in the previous year, the firm posted $1.78 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.15%. Belden’s dividend payout ratio (DPR) is 4.65%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.75.

Institutional Trading of Belden

A number of hedge funds have recently modified their holdings of BDC. GAMMA Investing LLC increased its stake in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 117 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Belden by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 148 shares during the period. US Bancorp DE increased its stake in shares of Belden by 7.4% during the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 193 shares in the last quarter. Matrix Trust Co purchased a new position in shares of Belden during the third quarter valued at approximately $25,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Belden by 0.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock worth $4,068,000 after purchasing an additional 215 shares in the last quarter. 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.