Belden Inc. (NYSE:BDC) Director Jonathan C. Klein Sells 2,500 Shares of Stock

Belden Inc. (NYSE:BDC – Get Rating) Director Jonathan C. Klein sold 2,500 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $81.49, for a total value of $203,725.00. Following the sale, the director now owns 11,553 shares of the company’s stock, valued at $941,453.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Belden Stock Down 1.9 %

Shares of BDC traded down $1.58 during trading hours on Friday, hitting $81.95. The stock had a trading volume of 496,819 shares, compared to its average volume of 288,420. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.40 and a quick ratio of 1.87. The firm has a 50 day simple moving average of $83.38 and a 200-day simple moving average of $74.84. The firm has a market capitalization of $3.52 billion, a P/E ratio of 14.25 and a beta of 1.32. Belden Inc. has a 1-year low of $47.89 and a 1-year high of $92.33.

Belden (NYSE:BDC – Get Rating) last issued its earnings results on Wednesday, February 8th. The industrial products company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. Belden had a return on equity of 26.70% and a net margin of 9.77%. The company had revenue of $659.07 million during the quarter, compared to the consensus estimate of $644.17 million. During the same period last year, the business posted $1.32 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts predict that Belden Inc. will post 6.84 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Tuesday, March 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.24%. Belden’s payout ratio is 3.48%.

Hedge Funds Weigh In On Belden

Large investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in Belden by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 353 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 174 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 241 shares in the last quarter. USA Financial Portformulas Corp bought a new position in Belden in the 3rd quarter valued at about $32,000. Skandinaviska Enskilda Banken AB publ lifted its position in Belden by 164.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 569 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 354 shares in the last quarter. Finally, Ronald Blue Trust Inc. lifted its position in Belden by 444.0% in the 4th quarter. Ronald Blue Trust Inc. now owns 631 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 515 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Loop Capital increased their price target on Belden from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Benchmark increased their price target on Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. The Goldman Sachs Group increased their price target on Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Jefferies Financial Group assumed coverage on Belden in a report on Tuesday, November 22nd. They set a “hold” rating and a $86.00 price target for the company. Finally, Truist Financial increased their price target on Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Belden Company Profile

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.