Belden Inc. (NYSE:BDC) CAO Doug Zink Sells 3,000 Shares

Belden Inc. (NYSE:BDC) CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Doug Zink also recently made the following trade(s):

• On Tuesday, November 5th, Doug Zink sold 1,324 shares of Belden stock. The shares were sold at an average price of $117.49, for a total value of $155,556.76.

Belden Stock Performance

NYSE BDC opened at $123.84 on Wednesday. The business has a 50 day moving average price of $114.77 and a 200 day moving average price of $102.23. 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 capitalization of $5.00 billion, a P/E ratio of 28.80 and a beta of 1.07. Belden Inc. has a 1-year low of $64.13 and a 1-year high of $131.82.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $122.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in Belden by 9.4% during the 1st quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock valued at $2,713,000 after buying an additional 2,507 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Belden by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock valued at $3,378,000 after purchasing an additional 472 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Belden by 34.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,303 shares of the industrial products company’s stock valued at $1,325,000 after purchasing an additional 3,701 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Belden in the 1st quarter valued at about $1,086,000. Finally, ProShare Advisors LLC grew its holdings in shares of Belden by 3.1% during the first quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock worth $882,000 after buying an additional 290 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other 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.