Belden Inc. (NYSE:BDC) CEO Ashish Chand Sells 14,535 Shares

Belden Inc. (NYSE:BDC) CEO Ashish Chand sold 14,535 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the sale, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This trade represents a 11.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Belden Trading Down 2.1 %

NYSE BDC opened at $109.42 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The firm has a market cap of $4.41 billion, a PE ratio of 22.75 and a beta of 1.08. Belden Inc. has a one year low of $80.90 and a one year high of $131.82. The firm’s fifty day moving average is $115.11 and its two-hundred day moving average is $114.74.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. Analysts expect that Belden Inc. will post 7.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. increased its stake in shares of Belden by 9.6% during the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 105 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of Belden by 5.4% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 116 shares during the period. Arizona State Retirement System increased its stake in shares of Belden by 1.1% during the fourth quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company’s stock worth $1,334,000 after acquiring an additional 129 shares during the period. Baird Financial Group Inc. grew its position in Belden by 4.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,802 shares of the industrial products company’s stock worth $316,000 after buying an additional 130 shares during the period. Finally, Mariner LLC grew its position in Belden by 6.7% during the fourth quarter. Mariner LLC now owns 2,190 shares of the industrial products company’s stock worth $247,000 after buying an additional 137 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BDC shares. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Loop Capital reduced their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Belden in a research note on Monday, February 10th. Finally, Truist Financial lifted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $130.25.

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.