Doug Zink Sells 485 Shares of Belden (NYSE:BDC) Stock

Belden Inc (NYSE:BDC) CAO Doug Zink sold 485 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $126.00, for a total value of $61,110.00. Following the completion of the transaction, the chief accounting officer owned 4,642 shares of the company’s stock, valued at $584,892. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, February 6th, Doug Zink sold 1,452 shares of Belden stock. The stock was sold at an average price of $133.96, for a total transaction of $194,509.92.
• On Tuesday, December 9th, Doug Zink sold 4,000 shares of Belden stock. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00.

Belden Stock Up 6.2%

Shares of BDC stock traded up $8.18 during trading hours on Friday, hitting $139.90. 519,155 shares of the company were exchanged, compared to its average volume of 274,994. Belden Inc has a 52 week low of $83.18 and a 52 week high of $140.43. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $118.85 and a two-hundred day moving average of $120.65. The company has a market capitalization of $5.50 billion, a PE ratio of 24.85 and a beta of 1.20.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. Belden’s dividend payout ratio (DPR) is currently 3.55%.

Institutional Investors Weigh In On Belden

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Belden by 1.9% in the third quarter. Vanguard Group Inc. now owns 4,893,012 shares of the industrial products company’s stock valued at $588,483,000 after buying an additional 93,274 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Belden by 2.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock valued at $126,328,000 after acquiring an additional 28,336 shares during the last quarter. Invesco Ltd. grew its position in shares of Belden by 4.0% in the 3rd quarter. Invesco Ltd. now owns 1,015,651 shares of the industrial products company’s stock valued at $122,152,000 after acquiring an additional 39,096 shares during the period. Channing Capital Management LLC increased its stake in shares of Belden by 16.2% during the 2nd quarter. Channing Capital Management LLC now owns 625,893 shares of the industrial products company’s stock worth $72,478,000 after purchasing an additional 87,400 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Belden by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,671 shares of the industrial products company’s stock valued at $71,989,000 after purchasing an additional 31,834 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Truist Financial upped their price target on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Belden in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

About Belden

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.