Belden Inc. (NYSE:BDC) Director Sells $156,345.03 in Stock

Belden Inc. (NYSE:BDCGet Free Report) Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total transaction of $156,345.03. Following the transaction, the director now owns 12,097 shares in the company, valued at approximately $1,176,917.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Belden Price Performance

BDC opened at $94.71 on Monday. The company’s 50-day simple moving average is $90.58 and its two-hundred day simple moving average is $83.69. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. The stock has a market capitalization of $3.85 billion, a P/E ratio of 18.53 and a beta of 1.09. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13.

Belden (NYSE:BDCGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, analysts predict that Belden Inc. will post 5.77 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s payout ratio is currently 3.91%.

Institutional Trading of Belden

A number of hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Belden by 3.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 158 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Belden by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after buying an additional 200 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Belden by 15.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after buying an additional 209 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after buying an additional 244 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BDC. Loop Capital lifted their price target on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Truist Financial restated a “buy” rating and set a $119.00 price objective (up from $101.00) on shares of Belden in a research note on Friday. StockNews.com downgraded shares of Belden from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, Benchmark reissued a “buy” rating and set a $100.00 price target on shares of Belden in a research report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Belden currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Check Out Our Latest Research Report on Belden

Belden Company Profile

(Get Free Report)

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.

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