Belden Inc. (NYSE:BDC) CEO Sells $1,619,925.75 in Stock

Belden Inc. (NYSE:BDC) CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the transaction, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Belden Price Performance

BDC stock opened at $107.06 on Friday. The business has a 50 day simple moving average of $114.86 and a 200-day simple moving average of $114.65. The company has a market capitalization of $4.31 billion, a P/E ratio of 22.26 and a beta of 1.08. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, equities analysts anticipate that Belden Inc. will post 7.07 EPS for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.19%. Belden’s dividend payout ratio (DPR) is presently 4.16%.

Institutional Trading of Belden

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDC. Aster Capital Management DIFC Ltd acquired a new position in shares of Belden in the fourth quarter valued at approximately $26,000. Prospera Private Wealth LLC purchased a new position in Belden in the 3rd quarter valued at $33,000. Quarry LP grew its position in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after buying an additional 265 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after buying an additional 209 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Belden during the 4th quarter worth $61,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BDC shares. Truist Financial upped their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Belden in a research note on Monday, February 10th. Finally, Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $130.25.

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.