Insider Selling: Belden (NYSE:BDC) SVP Sells 2,954 Shares of Stock

Belden Inc (NYSE:BDC) SVP Leah Tate sold 2,954 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $130.00, for a total transaction of $384,020.00. Following the completion of the sale, the senior vice president directly owned 24,881 shares in the company, valued at approximately $3,234,530. This trade represents a 10.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Leah Tate also recently made the following trade(s):

• On Wednesday, December 3rd, Leah Tate sold 2,554 shares of Belden stock. The stock was sold at an average price of $120.00, for a total transaction of $306,480.00.

Belden Stock Up 6.2%

Shares of NYSE:BDC traded up $8.18 during trading hours on Friday, reaching $139.90. The stock had a trading volume of 519,155 shares, compared to its average volume of 274,994. Belden Inc has a 1 year low of $83.18 and a 1 year high of $140.43. The firm’s 50 day moving average is $118.85 and its 200-day moving average is $120.65. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 24.85 and a beta of 1.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 1.99.

Belden Dividend Announcement

The firm 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 was Thursday, December 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. Belden’s dividend payout ratio (DPR) is currently 3.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Belden by 12,950.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 259 shares during the period. EverSource Wealth Advisors LLC grew its position in Belden by 134.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Belden by 234.3% in the third quarter. Smartleaf Asset Management LLC now owns 331 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 232 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of Belden in the second quarter valued at about $52,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Belden by 152.5% during the third quarter. Hantz Financial Services Inc. now owns 457 shares of the industrial products company’s stock worth $55,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BDC. Truist Financial increased their price objective on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Belden in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.