Belden Inc. (NYSE:BDC) SVP Leah Tate Sells 164 Shares of Stock

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 164 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $111.76, for a total transaction of $18,328.64. Following the transaction, the senior vice president now owns 22,567 shares of the company’s stock, valued at approximately $2,522,087.92. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Leah Tate also recently made the following trade(s):

• On Friday, February 7th, Leah Tate sold 2,400 shares of Belden stock. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00.

Belden Trading Down 2.1 %

Shares of Belden stock opened at $109.42 on Wednesday. The company has a fifty day simple moving average of $115.11 and a 200-day simple moving average of $114.74. Belden Inc. has a 12-month low of $80.90 and a 12-month high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 22.75 and a beta of 1.08.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities analysts forecast that Belden Inc. will post 7.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Belden

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its stake in Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after acquiring an additional 576,768 shares during the last quarter. Norges Bank purchased a new position in Belden in the fourth quarter valued at approximately $54,167,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Belden during the fourth quarter valued at approximately $2,511,000. Bank of America Corp DE raised its stake in shares of Belden by 234.7% during the fourth quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company’s stock valued at $25,266,000 after purchasing an additional 157,335 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Belden by 380.3% during the fourth quarter. Janus Henderson Group PLC now owns 166,354 shares of the industrial products company’s stock valued at $18,726,000 after purchasing an additional 131,719 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BDC shares. Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a research report on Monday, February 10th. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Loop Capital decreased their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Belden presently has a consensus rating of “Buy” and a consensus price target of $130.25.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.