Insider Selling: Belden Inc. (NYSE:BDC) SVP Sells $658,615.76 in Stock

Belden Inc. (NYSE:BDC) SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Edward Anderson also recently made the following trade(s):

• On Tuesday, August 13th, Brian Edward Anderson sold 1,262 shares of Belden stock. The shares were sold at an average price of $96.79, for a total value of $122,148.98.

Belden Stock Up 1.1 %

Shares of BDC opened at $101.55 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.83 and a current ratio of 1.70. Belden Inc. has a one year low of $60.54 and a one year high of $102.47. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 19.87 and a beta of 1.06. The stock has a 50 day moving average price of $94.61 and a 200 day moving average price of $90.14.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the previous year, the business earned $1.91 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities research analysts forecast that Belden Inc. will post 5.85 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, June 13th. Belden’s payout ratio is currently 3.91%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BDC shares. Truist Financial boosted their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Loop Capital boosted their price objective on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Vertical Research began coverage on Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Benchmark boosted their price objective on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Institutional Trading of Belden

Several large investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System grew its holdings in Belden by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after buying an additional 200 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Belden by 41.7% in the 4th 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 in the last quarter. Atlas Capital Advisors LLC grew its holdings in Belden by 16.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock valued at $165,000 after buying an additional 246 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Belden by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock valued at $871,000 after buying an additional 269 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after buying an additional 290 shares in the last quarter. 98.75% of the stock is currently 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.