Belden Inc. (NYSE:BDC) Director Sells $234,190.00 in Stock

Belden Inc. (NYSE:BDC) Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total value of $234,190.00. Following the sale, the director now directly owns 9,968 shares in the company, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Belden Price Performance

Shares of NYSE BDC opened at $110.11 on Friday. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82. The firm has a market cap of $4.43 billion, a P/E ratio of 22.89 and a beta of 1.08. The company has a 50 day moving average of $114.79 and a 200 day moving average of $114.76. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last announced its quarterly earnings data 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%. As a group, research analysts expect that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden’s dividend payout ratio is presently 4.16%.

Institutional Investors Weigh In On Belden

Hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Belden during the 4th quarter valued at $26,000. Prospera Private Wealth LLC purchased a new stake in Belden during the 3rd quarter valued at $33,000. Quarry LP raised its stake in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after buying an additional 265 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after buying an additional 209 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Belden during the 4th quarter valued at $61,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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