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

Belden Inc (NYSE:BDC) CAO Doug Zink sold 1,452 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $133.96, for a total value of $194,509.92. Following the completion of the sale, the chief accounting officer directly owned 4,642 shares of the company’s stock, valued at $621,842.32. This trade represents a 23.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 shares were sold at an average price of $125.00, for a total transaction of $500,000.00.

Belden Trading Up 6.2%

Belden stock traded up $8.18 during midday trading on Friday, hitting $139.90. 519,155 shares of the stock were exchanged, compared to its average volume of 274,994. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $118.85 and its 200 day simple moving average is $120.65. 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 Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BDC. Millennium Management LLC grew its stake in shares of 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 buying an additional 6,894 shares in the last quarter. United Services Automobile Association purchased a new position in Belden during the 1st quarter valued at about $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 stake in Belden by 18.3% during the first quarter. Jane Street Group LLC now owns 58,028 shares of the industrial products company’s stock worth $5,817,000 after purchasing an additional 8,961 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Belden by 273.7% during the first quarter. Acadian Asset Management LLC now owns 3,984 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 2,918 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BDC shares. Truist Financial increased their price objective on Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Belden in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Four equities 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 a consensus target price of $140.00.

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.