Belden Inc. (NYSE:BDC) Director Sells $239,950.00 in Stock

Belden Inc. (NYSE:BDC) Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Belden Stock Performance

Shares of BDC traded up $1.89 during mid-day trading on Tuesday, hitting $98.09. 131,896 shares of the company’s stock were exchanged, compared to its average volume of 272,800. The stock’s 50-day simple moving average is $94.37 and its 200-day simple moving average is $88.85. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 18.85 and a beta of 1.06. The company has a quick ratio of 1.83, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $102.47.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. On average, equities research analysts expect that Belden Inc. will post 5.85 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Thursday, June 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.20%. Belden’s dividend payout ratio (DPR) is 3.91%.

Analyst Ratings Changes

Several brokerages have issued reports on BDC. Truist Financial raised their price objective on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Vertical Research began coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Loop Capital raised their price objective on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Benchmark raised their target price on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Belden currently has a consensus rating of “Moderate Buy” and an average price target of $111.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BDC. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the second quarter worth $28,000. Whittier Trust Co. grew its stake in shares of Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after buying an additional 298 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Belden during the first quarter worth $32,000. Quadrant Capital Group LLC grew its stake in shares of Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Belden during the fourth quarter worth $72,000. 98.75% of the stock is owned by institutional investors.

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.