Belden Inc. (NYSE:BDC) CAO Sells $386,460.00 in Stock

Belden Inc. (NYSE:BDC) CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Doug Zink also recently made the following trade(s):

• On Tuesday, November 5th, Doug Zink sold 1,324 shares of Belden stock. The stock was sold at an average price of $117.49, for a total value of $155,556.76.

Belden Stock Down 1.3 %

Shares of NYSE:BDC opened at $119.74 on Friday. The firm has a 50 day simple moving average of $115.50 and a 200-day simple moving average of $102.49. Belden Inc. has a twelve month low of $65.52 and a twelve month high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.83 billion, a PE ratio of 27.85 and a beta of 1.07.

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 analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. On average, equities analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is 4.65%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Belden

Several large investors have recently modified their holdings of BDC. Matrix Trust Co acquired a new position in shares of Belden in the 3rd quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Belden in the second quarter valued at $28,000. GAMMA Investing LLC increased its stake in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Belden during the third quarter worth about $33,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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.