Insider Selling: Belden (NYSE:BDC) CAO Sells $61,110.00 in Stock

Belden Inc (NYSE:BDC) CAO Doug Zink sold 485 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $126.00, for a total value of $61,110.00. Following the completion of the sale, the chief accounting officer owned 4,642 shares of the company’s stock, valued at approximately $584,892. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, February 6th, Doug Zink sold 1,452 shares of Belden stock. The stock was sold at an average price of $133.96, for a total value of $194,509.92.
• 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 transaction of $500,000.00.

Belden Stock Performance

Shares of Belden stock opened at $139.90 on Monday. The company has a 50 day moving average price of $119.38 and a 200 day moving average price of $120.62. The firm has a market capitalization of $5.50 billion, a P/E ratio of 24.85 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 1.03. Belden Inc has a 52 week low of $83.18 and a 52 week high of $140.43.

Belden Dividend Announcement

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

Institutional Investors Weigh In On Belden

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC lifted its stake in shares of Belden by 1.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 78 shares during the period. Arizona State Retirement System increased its holdings in Belden by 0.7% in the third quarter. Arizona State Retirement System now owns 11,688 shares of the industrial products company’s stock valued at $1,406,000 after buying an additional 86 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Belden by 4.6% in the third quarter. Crossmark Global Holdings Inc. now owns 2,290 shares of the industrial products company’s stock valued at $275,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. raised its position in shares of Belden by 6.0% in the third quarter. Blue Trust Inc. now owns 2,038 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 116 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Belden by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

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