Belden Inc. (NYSE:BDC) SVP Leah Tate Sells 2,400 Shares

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 2,400 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the sale, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Belden Trading Down 1.3 %

NYSE:BDC opened at $112.56 on Wednesday. The stock’s 50 day moving average price is $116.83 and its 200 day moving average price is $113.44. The company has a market capitalization of $4.54 billion, a PE ratio of 23.40 and a beta of 1.08. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a 52-week low of $78.64 and a 52-week high of $131.82.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, research analysts anticipate that Belden Inc. will post 7.76 EPS for the current year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden’s dividend payout ratio is presently 4.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after buying an additional 576,768 shares during the last quarter. State Street Corp lifted its position in Belden by 6.8% during 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 lifted its position in Belden by 0.6% during 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 lifted its position in Belden by 10.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after acquiring an additional 68,151 shares during the period. Finally, Boston Partners lifted its position in Belden by 43.1% during the 4th quarter. Boston Partners now owns 230,170 shares of the industrial products company’s stock worth $26,387,000 after acquiring an additional 69,365 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BDC. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday. 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 report on Tuesday. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Belden in a research note on Monday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $130.25.

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.