Belden Inc. (NYSE:BDC) CAO Doug Zink Sells 1,324 Shares

Belden Inc. (NYSE:BDC) CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the transaction, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Belden Stock Up 2.0 %

Belden stock traded up $2.28 during midday trading on Tuesday, hitting $118.45. 231,783 shares of the company were exchanged, compared to its average volume of 271,889. The company’s fifty day moving average price is $112.40 and its 200-day moving average price is $100.43. Belden Inc. has a fifty-two week low of $63.00 and a fifty-two week high of $123.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The company has a market cap of $4.78 billion, a PE ratio of 27.19 and a beta of 1.07.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. On average, research analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio is presently 4.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Matrix Trust Co bought a new position in Belden during the third quarter valued at about $25,000. GAMMA Investing LLC boosted its position in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Belden in the second quarter worth approximately $28,000. Whittier Trust Co. boosted its stake in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares during the period. Finally, Innealta Capital LLC acquired a new position in Belden in the 2nd quarter worth about $95,000. Institutional investors own 98.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Vertical Research began coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Finally, Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $122.75.

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.