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 transaction, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Belden Stock Down 0.5 %

Shares of BDC stock traded down $0.58 during trading hours on Tuesday, hitting $113.47. 57,000 shares of the company were exchanged, compared to its average volume of 246,355. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $4.58 billion, a PE ratio of 23.59 and a beta of 1.08. Belden Inc. has a 52 week low of $78.64 and a 52 week high of $131.82. The business has a 50 day moving average of $117.04 and a two-hundred day moving average of $113.30.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. Analysts anticipate that Belden Inc. will post 7.76 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date was Thursday, December 12th. Belden’s dividend payout ratio (DPR) is presently 4.16%.

Hedge Funds Weigh In On Belden

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the period. Prospera Private Wealth LLC acquired a new stake in Belden during the 3rd quarter worth approximately $33,000. First Horizon Advisors Inc. boosted 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 purchasing an additional 209 shares during the period. Parkside Financial Bank & Trust increased its position in Belden by 31.3% during 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 position in shares of 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 period. 98.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Loop Capital dropped their price objective on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Belden in a report on Monday. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Truist Financial boosted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.