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

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 2,400 shares of the company’s stock in a transaction dated 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 $2,667,599.11. This trade represents a 9.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Belden Stock Performance

Shares of BDC opened at $112.65 on Thursday. Belden Inc. has a fifty-two week low of $78.64 and a fifty-two week high of $131.82. The company has a market capitalization of $4.54 billion, a PE ratio of 23.42 and a beta of 1.08. The stock has a fifty day moving average of $116.63 and a two-hundred day moving average of $113.44. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.43 and a current ratio of 1.92.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating 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%. As a group, analysts forecast that Belden Inc. will post 7.76 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. Belden’s payout ratio is currently 4.16%.

Institutional Investors Weigh In On Belden

A number of institutional investors have recently bought and sold shares of BDC. GAMMA Investing LLC raised its stake in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $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 3rd quarter worth $33,000. First Horizon Advisors Inc. raised its position in shares of Belden by 97.7% in the 3rd 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. Parkside Financial Bank & Trust raised its position in shares of Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after buying an additional 199 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 105 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of Belden in a research note on Monday. Loop Capital cut their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial increased their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus price target 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.