Doug Zink, Vice President and Chief Accounting Officer at Belden Inc . (NYSE:BDC), recently sold 3,000 shares of the company's common stock. The transactions, which took place on November 7, 2024, were executed at an average price of approximately $128.82 per share, totaling $386,469. Following this sale, Zink holds 6,643 shares directly. Additionally, he retains 999.1079 shares indirectly through the Belden Retirement Savings Plan.
In other recent news, Belden Inc. reported a strong third quarter, with earnings surpassing expectations. The company's revenue reached $655 million, an 8% sequential increase, and earnings per share (EPS) rose 13% sequentially to $1.70. This performance was attributed to a return to organic revenue growth in the Americas region, strategic acquisitions such as Voleatech, and significant contracts with Deutsche Bahn and a gaming and leisure operator. Belden's orders also grew 8% sequentially and 28% year-over-year, marking the fourth consecutive quarter of growth.
In response to these results, Loop Capital, Benchmark, and Truist Securities all raised their price targets for Belden and maintained their Buy ratings. Loop Capital increased their target to $155, Benchmark to $130, and Truist Securities to $136. These firms cited Belden's strong positioning for sales growth and potential benefits from strategic capital deployment as reasons for their optimistic outlooks.
Looking ahead, Belden expects fourth-quarter revenues to be between $645 million and $660 million, with a projected year-over-year EPS increase of 11-18%. The company remains committed to achieving its $8 EPS target by 2025. These recent developments indicate Belden's strategic focus on key verticals with strong growth potential and its commitment to operational optimization.
InvestingPro Insights
In light of Doug Zink's recent stock sale, it's worth examining some key financial metrics and insights for Belden Inc. (NYSE:BDC). According to InvestingPro data, Belden's market capitalization stands at $4.99 billion, reflecting its significant presence in the industrial technology sector.
The company's P/E ratio of 28.54 suggests that investors are willing to pay a premium for Belden's earnings, possibly due to growth expectations or market position. This is further supported by an InvestingPro Tip indicating that Belden has shown a "high return over the last year," with a remarkable 95.98% price total return over the past 12 months.
Another InvestingPro Tip highlights that Belden "has maintained dividend payments for 21 consecutive years," demonstrating a commitment to shareholder returns and financial stability. This long-term dividend consistency may be particularly appealing to income-focused investors.
It's noteworthy that Belden is trading near its 52-week high, with the current price at 94.14% of its peak. This aligns with the strong performance observed in recent months, as evidenced by a 33.79% price total return over the last three months.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 7 more InvestingPro Tips available for Belden, which could provide valuable context for understanding the company's financial health and market position.
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