Belden Inc. (NYSE:BDC) CEO Sells $1,619,925.75 in Stock

Belden Inc. (NYSE:BDC) CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the transaction, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. The trade was a 11.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Belden Stock Performance

Shares of BDC opened at $109.42 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 22.75 and a beta of 1.08. The company’s 50 day simple moving average is $115.11 and its 200 day simple moving average is $114.74. Belden Inc. has a 1 year low of $80.90 and a 1 year high of $131.82.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (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, sell-side analysts predict that Belden Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BDC. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Loop Capital reduced their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $130.00 price target on shares of Belden in a report on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $130.25.

Hedge Funds Weigh In On Belden

Several institutional investors and hedge funds have recently modified their holdings of BDC. Aster Capital Management DIFC Ltd purchased a new position in shares of Belden during the fourth quarter valued at approximately $26,000. Prospera Private Wealth LLC purchased a new position in shares of Belden during the third quarter valued at approximately $33,000. Quarry LP lifted its stake in shares of Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after buying an additional 265 shares during the period. First Horizon Advisors Inc. raised its stake in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Belden during the fourth quarter worth approximately $61,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.