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Ashish Chand, President and CEO of Belden Inc . (NYSE:BDC), recently sold 14,535 shares of the company’s common stock. The sale, which took place on February 24, 2025, was executed under a pre-established Rule 10b5-1 trading plan. The shares were sold at an average price of $111.453, resulting in a total transaction value of approximately $1.62 million. The transaction comes as the $4.4 billion market cap company shows strong momentum, with a 28.57% return over the past year. According to InvestingPro analysis, analysts maintain a bullish outlook with price targets ranging from $130 to $145.
Following this transaction, Chand holds 107,129 shares directly. Additionally, shares were withheld for tax purposes related to restricted stock unit grants that vested on February 21 and February 24, 2025. These transactions did not involve any purchase of shares. The report also indicates that Chand holds a balance of shares in the Belden Retirement Savings Plan. InvestingPro data reveals that while management has been actively buying back shares, the stock currently trades above its Fair Value. Discover 7 more exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Belden Inc. reported its fourth-quarter 2024 earnings, revealing a strong financial performance with earnings per share (EPS) of $1.92, surpassing the forecast of $1.68. The company also exceeded revenue expectations, reporting $666 million, a 21% year-over-year increase. Despite these positive results, Belden’s stock experienced a decline, possibly reflecting investor concerns about future guidance or broader market conditions. Analysts at Benchmark maintained a Buy rating on Belden, with a $130 price target, highlighting the company’s growth prospects and strategic alignment with favorable market trends. However, they noted a tempered outlook for the first quarter of 2025 due to potential trade policy uncertainties. Belden’s management remains optimistic about achieving an $8 EPS target for 2025, contingent on improved business conditions. The company has projected revenue between $595 million and $620 million for the first quarter of 2025, with adjusted EPS guidance set between $1.43 and $1.53. Belden continues to focus on its solutions transformation, which is contributing to organic growth, particularly in The Americas, where it saw a 23% increase.
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