Jonathan C. Klein Sells 1,607 Shares of Belden Inc. (NYSE:BDC) Stock

Belden Inc. (NYSE:BDC) Director Jonathan C. Klein sold 1,607 shares of Belden stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the transaction, the director now owns 12,097 shares in the company, valued at approximately $1,176,917.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Belden Trading Down 3.2 %

BDC opened at $94.71 on Friday. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $99.13. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The company has a market cap of $3.85 billion, a P/E ratio of 18.53 and a beta of 1.09. The company has a fifty day moving average price of $90.58 and a two-hundred day moving average price of $83.58.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same period in the previous year, the firm posted $1.68 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Analysts predict that Belden Inc. will post 5.77 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BDC. Benchmark reiterated a “buy” rating and set a $100.00 price target on shares of Belden in a report on Monday, May 6th. Loop Capital boosted their target price on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Truist Financial restated a “buy” rating and issued a $119.00 target price (up previously from $101.00) on shares of Belden in a report on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Belden has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Institutional Investors Weigh In On Belden

Several hedge funds and other institutional investors have recently made changes to their positions in BDC. Rise Advisors LLC bought a new stake in shares of Belden during the first quarter worth about $32,000. Whittier Trust Co. increased its position in shares of Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Belden during the fourth quarter worth about $72,000. Finally, TFO Wealth Partners LLC increased its position in shares of Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 1,005 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

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.