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

Belden Inc (NYSE:BDC) CAO Doug Zink sold 1,452 shares of the company’s stock in a transaction dated 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 directly owned 4,642 shares in the company, valued at $621,842.32. This represents a 23.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, February 5th, Doug Zink sold 485 shares of Belden stock. The shares were sold at an average price of $126.00, for a total transaction of $61,110.00.
• On Tuesday, December 9th, Doug Zink sold 4,000 shares of Belden stock. The stock was sold at an average price of $125.00, for a total value of $500,000.00.

Belden Trading Up 6.2%

BDC stock opened at $139.90 on Monday. The business has a fifty day moving average price of $119.38 and a 200 day moving average price of $120.62. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.99 and a quick ratio of 1.37. Belden Inc has a fifty-two week low of $83.18 and a fifty-two week high of $140.43. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 24.85 and a beta of 1.20.

Belden Announces Dividend

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

Hedge Funds Weigh In On Belden

Several large investors have recently bought and sold shares of BDC. Millennium Management LLC boosted its stake in Belden by 9.6% in the first quarter. Millennium Management LLC now owns 78,865 shares of the industrial products company’s stock valued at $7,906,000 after acquiring an additional 6,894 shares during the last quarter. United Services Automobile Association bought a new position in shares of Belden in the 1st quarter worth $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Belden by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,807 shares of the industrial products company’s stock worth $13,214,000 after purchasing an additional 10,077 shares during the period. Jane Street Group LLC increased its holdings in Belden by 18.3% in the first quarter. Jane Street Group LLC now owns 58,028 shares of the industrial products company’s stock valued at $5,817,000 after purchasing an additional 8,961 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Belden by 273.7% in the first quarter. Acadian Asset Management LLC now owns 3,984 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 2,918 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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