Belden (NYSE:BDC) CAO Sells $194,509.92 in Stock

Belden Inc (NYSE:BDC) CAO Doug Zink sold 1,452 shares of Belden stock in a transaction on Friday, February 6th. The stock was sold at an average price of $133.96, for a total transaction of $194,509.92. Following the sale, the chief accounting officer owned 4,642 shares of the company’s stock, valued at $621,842.32. The trade was a 23.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, February 5th, Doug Zink sold 485 shares of Belden stock. The stock was sold at an average price of $126.00, for a total value of $61,110.00.
• 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 value of $500,000.00.

Belden Stock Performance

Shares of BDC stock traded up $8.18 during trading hours on Friday, hitting $139.90. The company’s stock had a trading volume of 519,155 shares, compared to its average volume of 274,994. The stock has a market cap of $5.50 billion, a PE ratio of 24.85 and a beta of 1.20. Belden Inc has a 12-month low of $83.18 and a 12-month high of $140.43. The company has a 50 day moving average of $118.85 and a 200 day moving average of $120.65. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03.

Belden Announces Dividend

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

Hedge Funds Weigh In On Belden

Several hedge funds and other institutional investors have recently modified their holdings of BDC. LSV Asset Management grew its stake in Belden by 5.4% during the 4th quarter. LSV Asset Management now owns 47,643 shares of the industrial products company’s stock valued at $5,553,000 after acquiring an additional 2,433 shares in the last quarter. Newport Trust Company LLC lifted its stake in Belden by 2.8% in the 4th quarter. Newport Trust Company LLC now owns 341,103 shares of the industrial products company’s stock worth $39,756,000 after purchasing an additional 9,337 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Belden during the 4th quarter worth approximately $78,000. PNC Financial Services Group Inc. grew its position in shares of Belden by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 116 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Belden by 23.4% in the fourth quarter. Handelsbanken Fonder AB now owns 13,730 shares of the industrial products company’s stock valued at $1,600,000 after purchasing an additional 2,600 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BDC. Wall Street Zen upgraded Belden from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a report on Wednesday, January 21st. Finally, Truist Financial boosted their target price on shares of Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Belden Company Profile

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.