Belden (NYSE:BDC) CAO Doug Zink Sells 485 Shares

Belden Inc (NYSE:BDC) CAO Doug Zink sold 485 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $584,892. This represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 stock was sold at an average price of $125.00, for a total value of $500,000.00.

Belden Stock Performance

BDC traded up $8.18 during trading hours on Friday, reaching $139.90. The company’s stock had a trading volume of 519,155 shares, compared to its average volume of 274,994. The company’s 50-day moving average is $118.85 and its 200-day moving average is $120.65. Belden Inc has a 52 week low of $83.18 and a 52 week high of $140.43. The firm has a market cap of $5.50 billion, a PE ratio of 24.85 and a beta of 1.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 1.99.

Belden Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Belden

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDC. Allspring Global Investments Holdings LLC raised its stake in Belden by 2.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock valued at $126,328,000 after purchasing an additional 28,336 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Belden in the 3rd quarter valued at about $591,000. Ethic Inc. acquired a new position in shares of Belden in the 2nd quarter valued at approximately $252,000. JPMorgan Chase & Co. lifted its holdings in shares of Belden by 28.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 275,726 shares of the industrial products company’s stock worth $31,929,000 after acquiring an additional 60,445 shares during the period. Finally, Riverwater Partners LLC bought a new stake in shares of Belden during the 3rd quarter worth approximately $1,834,000. 98.75% of the stock is owned by institutional investors and hedge funds.

About Belden

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.