Belden (NYSE:BDC) Shares Cross Above 200 Day Moving Average – Should You Sell?

Belden Inc. (NYSE:BDC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $109.38 and traded as high as $117.47. Belden shares last traded at $114.37, with a volume of 244,815 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on BDC. Truist Financial boosted their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $122.75.

Belden Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The stock’s fifty day simple moving average is $119.32 and its two-hundred day simple moving average is $109.42. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 26.97 and a beta of 1.09.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. Belden’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 earnings per share. On average, sell-side analysts anticipate that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.05 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s payout ratio is currently 4.65%.

Insider Buying and Selling at Belden

In related news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BDC. Matrix Trust Co acquired a new stake in shares of Belden during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after buying an additional 117 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Belden during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. boosted its position in shares of Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 209 shares in the last quarter. Finally, KBC Group NV lifted its stake in Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 274 shares during the period. 98.75% of the stock is owned by institutional investors.

Belden Company Profile

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.