Belden Inc. (NYSE:BDC) Director Jonathan C. Klein Sells 2,500 Shares

Belden Inc. (NYSE:BDC - Get Rating) Director Jonathan C. Klein sold 2,500 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $81.49, for a total transaction of $203,725.00. Following the completion of the sale, the director now directly owns 11,553 shares in the company, valued at $941,453.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Belden Price Performance

NYSE BDC traded down $1.58 on Friday, reaching $81.95. 489,564 shares of the company's stock traded hands, compared to its average volume of 288,420. The stock has a market cap of $3.52 billion, a PE ratio of 14.53 and a beta of 1.32. Belden Inc. has a 12 month low of $47.89 and a 12 month high of $92.33. The stock has a 50-day simple moving average of $83.38 and a 200 day simple moving average of $74.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.40 and a quick ratio of 1.87.

Belden (NYSE:BDC - Get Rating) last released its earnings results on Wednesday, February 8th. The industrial products company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $659.07 million for the quarter, compared to analyst estimates of $644.17 million. Belden had a net margin of 9.77% and a return on equity of 26.70%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 EPS. As a group, research analysts predict that Belden Inc. will post 6.84 earnings per share for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Tuesday, March 14th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Monday, March 13th. Belden's dividend payout ratio (DPR) is presently 3.48%.

Wall Street Analysts Forecast Growth

BDC has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Belden in a report on Thursday. They issued a "strong-buy" rating on the stock. Loop Capital raised their price target on Belden from $95.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, February 9th. Truist Financial boosted their price objective on Belden from $93.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 9th. The Goldman Sachs Group raised their target price on shares of Belden from $76.00 to $87.00 and gave the company a "neutral" rating in a research note on Thursday, February 9th. Finally, Jefferies Financial Group started coverage on shares of Belden in a report on Tuesday, November 22nd. They issued a "hold" rating and a $86.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.00.

Institutional Investors Weigh In On Belden

Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its position in Belden by 8.2% in the first quarter. Bank of Montreal Can now owns 15,131 shares of the industrial products company's stock valued at $867,000 after purchasing an additional 1,142 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Belden by 40.1% in the first quarter. MetLife Investment Management LLC now owns 52,012 shares of the industrial products company's stock worth $2,881,000 after buying an additional 14,895 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Belden in the first quarter worth $961,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Belden by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,455 shares of the industrial products company's stock valued at $912,000 after buying an additional 1,569 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new stake in Belden during the 1st quarter valued at $762,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Belden Company Profile

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.

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