Insider Selling: Belden Inc. (NYSE:BDC) CEO Sells 14,535 Shares of Stock

Belden Inc. (NYSE:BDC) CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the sale, the chief executive officer now directly owns 107,129 shares in the company, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Belden Price Performance

Shares of BDC stock traded down $2.31 during trading hours on Tuesday, reaching $109.42. 283,444 shares of the company were exchanged, compared to its average volume of 259,512. Belden Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $131.82. The stock’s fifty day moving average is $115.11 and its two-hundred day moving average is $114.74. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 22.75 and a beta of 1.08. 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 announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) 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%. Sell-side analysts forecast that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on BDC shares. Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of Belden in a research note on Monday, February 10th. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Truist Financial upped their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Loop Capital decreased their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Belden currently has an average rating of “Buy” and an average target price of $130.25.

Hedge Funds Weigh In On Belden

Several large investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after buying an additional 223,887 shares during the period. State Street Corp lifted its holdings in Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after buying an additional 100,145 shares during the period. Geode Capital Management LLC lifted its holdings in Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after buying an additional 5,727 shares during the period. Lord Abbett & CO. LLC raised its holdings in Belden by 0.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock worth $80,154,000 after purchasing an additional 3,692 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Belden by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company’s stock worth $78,309,000 after purchasing an additional 18,825 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.