Insider Selling: Belden Inc. (NYSE:BDC) Director Sells 2,500 Shares of Stock

Belden Inc. (NYSE:BDC) Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Belden Price Performance

Shares of Belden stock traded up $1.89 during midday trading on Tuesday, reaching $98.09. The company had a trading volume of 131,896 shares, compared to its average volume of 272,800. The company has a current ratio of 1.70, a quick ratio of 1.83 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 18.85 and a beta of 1.06. The stock has a fifty day simple moving average of $94.37 and a 200 day simple moving average of $88.85. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $102.47.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.14. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. As a group, equities research analysts forecast that Belden Inc. will post 5.85 earnings per share for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Thursday, June 13th. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Analyst Ratings Changes

BDC has been the subject of several recent analyst reports. Benchmark raised their price target on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday. Vertical Research started coverage on Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Loop Capital lifted their target price on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Truist Financial boosted their price objective on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

Institutional Investors Weigh In On Belden

Several large investors have recently modified their holdings of BDC. Opal Wealth Advisors LLC bought a new stake in Belden in the second quarter worth about $28,000. Rise Advisors LLC purchased a new stake in shares of Belden in the 1st quarter valued at $32,000. Whittier Trust Co. raised its holdings in Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after buying an additional 244 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Belden in the 4th quarter worth $72,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.