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

Belden Inc. (NYSE:BDC) SVP Leah Tate sold 164 shares of Belden stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.76, for a total transaction of $18,328.64. Following the sale, the senior vice president now owns 22,567 shares in the company, valued at approximately $2,522,087.92. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $114.77, for a total value of $275,448.00.

Belden Price Performance

Shares of NYSE BDC opened at $109.42 on Wednesday. The firm has a market cap of $4.41 billion, a P/E ratio of 22.75 and a beta of 1.08. Belden Inc. has a 1-year low of $80.90 and a 1-year 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 business’s 50 day moving average is $115.11 and its 200-day moving average is $114.74.

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

Hedge Funds Weigh In On Belden

A number of hedge funds have recently added to or reduced their stakes in BDC. FMR LLC raised its holdings in shares of Belden by 5.0% in the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock worth $530,418,000 after purchasing an additional 223,887 shares during the period. State Street Corp increased its holdings in shares of Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares during the period. Geode Capital Management LLC increased its holdings in shares of Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after purchasing an additional 5,727 shares during the period. Lord Abbett & CO. LLC grew its position in Belden by 0.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock worth $80,154,000 after acquiring an additional 3,692 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Belden by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company’s stock worth $78,309,000 after acquiring an additional 18,825 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

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