Belden Inc. (NYSE:BDC) SVP Leah Tate Sells 164 Shares

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 164 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.76, for a total value of $18,328.64. Following the completion of the sale, the senior vice president now owns 22,567 shares of the company’s stock, valued at $2,522,087.92. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Leah Tate also recently made the following trade(s):

• On Friday, February 7th, Leah Tate sold 2,400 shares of Belden stock. The shares were sold at an average price of $114.77, for a total value of $275,448.00.

Belden Stock Down 2.1 %

BDC stock traded down $2.31 during midday trading on Tuesday, hitting $109.42. The stock had a trading volume of 283,444 shares, compared to its average volume of 259,512. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 22.75 and a beta of 1.08. The business has a 50-day moving average of $115.11 and a two-hundred day moving average of $114.74. Belden Inc. has a 52-week low of $80.90 and a 52-week high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Belden

Institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Belden in the fourth quarter worth $26,000. Prospera Private Wealth LLC purchased a new stake in shares of Belden in the third quarter worth $33,000. Quarry LP grew its stake in shares of Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 265 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Belden in the fourth quarter worth $61,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BDC. Loop Capital reduced their target price on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Truist Financial boosted their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on 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.