Belden Inc. (NYSE:BDC) CAO Sells $155,556.76 in 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 transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Belden Trading Down 2.6 %

Shares of BDC stock opened at $128.00 on Friday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 29.77 and a beta of 1.07. The company’s fifty day simple moving average is $113.54 and its two-hundred day simple moving average is $101.09. Belden Inc. has a 1 year low of $63.28 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

Belden (NYSE:BDC) last announced its quarterly earnings results 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. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, September 12th. Belden’s payout ratio is 4.65%.

Wall Street Analysts Forecast Growth

BDC has been the subject of several research reports. Vertical Research started coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden presently has an average rating of “Buy” and an average target price of $122.75.

Institutional Trading of Belden

Institutional investors and hedge funds have recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of Belden in the third quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Belden in the 2nd quarter valued at about $28,000. Whittier Trust Co. raised its holdings in shares of Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 298 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Belden during the second quarter worth about $95,000. 98.75% of the stock is currently 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.