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 dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $117.49, for a total value of $155,556.76.

Belden Stock Performance

NYSE BDC opened at $119.74 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The stock’s fifty day moving average is $115.50 and its two-hundred day moving average is $102.49. The firm has a market capitalization of $4.83 billion, a P/E ratio of 27.85 and a beta of 1.07. Belden Inc. has a fifty-two week low of $65.52 and a fifty-two week high of $131.82.

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. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

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 dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s dividend payout ratio is currently 4.65%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Matrix Trust Co purchased a new position in Belden during the third quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Belden during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC raised its position 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 position in Belden during the third quarter worth $33,000. Finally, First Horizon Advisors Inc. boosted its position 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 period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on BDC shares. Vertical Research assumed coverage on Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Benchmark lifted 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 shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden currently has an average rating of “Buy” and an average target price of $122.75.

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.