Insider Selling: Belden Inc. (BDC) Insider Sells 21,210 Shares of Stock
Belden Inc. (NYSE:BDC) insider John S. Stroup sold 21,210 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $72.07, for a total transaction of $1,528,604.70. Following the transaction, the insider now owns 69,969 shares of the company’s stock, valued at $5,042,665.83. The transaction was disclosed in a filing with the SEC, which is available through this link.
Belden Inc. (NYSE:BDC) traded up 0.76% during midday trading on Tuesday, hitting $73.11. 532,518 shares of the stock were exchanged. The stock has a market cap of $3.08 billion, a PE ratio of 22.70 and a beta of 2.26. Belden Inc. has a 1-year low of $36.51 and a 1-year high of $75.91. The company’s 50 day moving average is $67.38 and its 200-day moving average is $66.92.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Belden had a net margin of 6.14% and a return on equity of 23.44%. The company earned $601.10 million during the quarter, compared to analyst estimates of $606.66 million. During the same period last year, the business earned $1.14 earnings per share. Belden’s revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Belden Inc. will post $5.24 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Belden by 11.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,584 shares of the company’s stock valued at $109,000 after buying an additional 163 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Belden by 176.6% in the second quarter. Panagora Asset Management Inc. now owns 2,365 shares of the company’s stock valued at $143,000 after buying an additional 1,510 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Belden by 14.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,411 shares of the company’s stock valued at $146,000 after buying an additional 298 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Belden by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 2,489 shares of the company’s stock valued at $172,000 after buying an additional 165 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Belden by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,522 shares of the company’s stock valued at $152,000 after buying an additional 1,057 shares during the last quarter.
BDC has been the subject of several recent research reports. Zacks Investment Research cut shares of Belden from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 20th. SunTrust Banks Inc. cut shares of Belden from a “buy” rating to a “neutral” rating and decreased their price target for the company from $84.00 to $79.00 in a research report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Belden currently has a consensus rating of “Hold” and an average price target of $77.00.
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Belden Company Profile
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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