Doug Zink Sells 3,000 Shares of Belden Inc. (NYSE:BDC) Stock

Belden Inc. (NYSE:BDC) CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 Tuesday, November 5th, Doug Zink sold 1,324 shares of Belden stock. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76.

Belden Stock Down 2.1 %

Shares of BDC opened at $121.28 on Thursday. Belden Inc. has a 12 month low of $65.52 and a 12 month high of $131.82. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 28.20 and a beta of 1.07. The company has a 50-day moving average price of $115.15 and a two-hundred day moving average price of $102.37. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. Equities analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. Belden’s dividend payout ratio is 4.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on BDC. Vertical Research initiated coverage on Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial upped their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark increased their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $122.75.

Hedge Funds Weigh In On Belden

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in shares of Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 8,169 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Belden by 8.0% in the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock worth $9,195,000 after acquiring an additional 7,340 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after purchasing an additional 98,503 shares in the last quarter. Foster & Motley Inc. grew its stake in shares of Belden by 25.3% during the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock valued at $4,530,000 after purchasing an additional 7,819 shares during the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in shares of Belden during the second quarter valued at approximately $503,000. Institutional investors own 98.75% of the company’s stock.

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.