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Jonathan C. Klein sells 1,000 shares of Belden Inc. (NYSE: BDC)

Belden Inc. (NYSE: BDC – Get a rating) Director Jonathan C. Klein sold 1,000 shares of the company in a trade that took place on Monday, August 8. The stock was sold at an average price of $66.90, for a total transaction of $66,900.00. Following the sale, the director now owns 15,053 shares of the company, valued at approximately $1,007,045.70. The sale was disclosed in an SEC filing, which is available via this hyperlink.

Belden stock up 1.0%

BDC shares traded up $0.67 midday on Monday, hitting $67.47. 307,651 shares of the company were traded, against an average volume of 305,518. The stock’s 50-day moving average is $57.43 and its 200-day moving average is $55.72. The company has a debt ratio of 1.08, a quick ratio of 1.72 and a current ratio of 2.39. Belden Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $68.87. The company has a market capitalization of $2.99 ​​billion, a price-earnings ratio of 35.42 and a beta of 1.35.

Belden (NYSE: BDC – Get a rating) last reported results on Wednesday, August 3. The industrial products company reported earnings per share (EPS) of $1.60 for the quarter, beating analyst consensus estimates of $1.43 by $0.17. The company posted revenue of $666.60 million for the quarter, versus analyst estimates of $633.68 million. Belden had a net margin of 3.37% and a return on equity of 25.73%. The company’s quarterly revenue increased 15.7% year over year. During the same period of the previous year, the company achieved EPS of $1.21. On average, sell-side analysts expect Belden Inc. to post 6 earnings per share for the current fiscal year.

Belden Dividend Announcement

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The company also recently declared a quarterly dividend, which was paid on Thursday, July 7. Shareholders of record on Thursday, June 16 received a dividend of $0.05 per share. The ex-dividend date was Wednesday, June 15. This represents an annualized dividend of $0.20 and a yield of 0.30%. Belden’s dividend payout ratio (DPR) is 10.53%.

Changes to analyst ratings

Several research firms have published reports on BDC. StockNews.com upgraded Belden from a “buy” rating to a “strong buy” rating in a Thursday, April 21 research note. Goldman Sachs Group raised its price target on Belden shares from $59.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial raised its target price on Belden shares from $67.00 to $77.00 in a research note on Thursday. TheStreet downgraded Belden’s shares from a “c+” rating to a “b-” rating in a Thursday, May 26 research note. Finally, Canaccord Genuity Group raised its price target on Belden shares from $82.00 to $88.00 and gave the stock a “buy” rating in a Thursday, May 5 research report. . One investment analyst gave the stock a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, Belden has an average rating of “Buy” and a consensus target price of $78.50.

Institutional investors weigh in on Belden

Hedge funds have recently been buying and selling stocks. HM Capital Management LLC increased its stake in Belden by 4.9% in the second quarter. HM Capital Management LLC now owns 5,188 shares of the industrial products company valued at $276,000 after acquiring 242 additional shares last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income increased its position in Belden shares by 29.8% during the 2nd quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 152,905 shares of the industrial products company worth $8,145,000 after purchasing an additional 35,130 shares in the last quarter. The Texas Permanent School Fund increased its stake in Belden shares by 0.7% during the second quarter. Texas Permanent School Fund now owns 32,063 shares of the industrial products company worth $1,708,000 after buying 232 more shares last quarter. Meeder Asset Management Inc. increased its stake in Belden by 2,935.1% in the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company valued at $60,000 after buying 1,086 additional shares in the last quarter. Finally, Keybank National Association OH increased its stake in Belden by 3.4% in the second quarter. Keybank National Association OH now owns 9,405 shares of the industrial products company valued at $501,000 after buying 305 additional shares last quarter. Institutional investors and hedge funds own 99.58% of the company’s shares.

Belden Company Profile

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

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