On July 15, 2025, Brian Anderson (SVP, Legal, GC and Corp. Sec.) reported selling 5,601 shares of Belden (BDC -1.33%), as disclosed in a Form 4 filing dated July 15, 2025, with a total transaction value of approximately $689,000 as of July 11, 2025, leaving a post-transaction holding of 45,135 shares.
Transaction summary
| Metric | Value |
|---|---|
| Shares Traded | 5,601 |
| Transaction Value | $689,203 |
| Post-Transaction Shares | 45,135 |
| Post-Transaction Value | $5.55 million |
| YTD Performance | 14.5% |
Key questions
What proportion of total ownership does the insider retain post-sale?
After the transaction, the insider holds 45,135 shares, representing approximately 0.11% of outstanding shares as of July 15, 2025 (rounded from 0.1143% per the SEC filing).
What is the year-to-date performance context for this transaction?
Belden shares have delivered a 14.5% total return in the calendar year to date, as of July 18, 2025.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $5.1 billion |
| Employees | 7,500 |
| Revenue (TTM) | $2.55 billion |
| Net income (TTM) | $213 million |
Company snapshot
Belden delivers signal transmission solutions, including copper and fiber cables, connectivity systems, industrial Ethernet switches, and network management products across enterprise and industrial markets. The company generates revenue through the sale of infrastructure components, connectivity solutions, and network equipment, serving both enterprise and industrial applications globally.
Primary customers include distributors, original equipment manufacturers, installers, and end-users across sectors such as data centers, commercial real estate, healthcare, government, and other markets.
Belden is a leading provider of communication and connectivity solutions, operating at scale with over 7,500 employees and a global customer base. The company’s strategy focuses on delivering high-performance infrastructure products for mission-critical environments, leveraging expertise in both enterprise and industrial markets. Belden’s diverse product portfolio and established presence across multiple end-markets underpin its competitive positioning in the communication equipment industry.
Foolish take
As part of his vesting stock options, Anderson sold 5,601 shares at market price, making a little over $689,000, after satisfying tax withholding obligations. He still owns more than 45,000 shares. This looks like a routine cashing in on vested stock options by an insider and nothing really out of the ordinary.
Coming to Belden’s performance, its shares are up 37% in the past 12 months, and a solid 286% over the last five years. The company achieved its highest gross margin of nearly 40% in the first quarter this year, since restructruting strategically in 2020 when it adopted a more integrated approach for its salesforce. Overall business grew 11% organically versus the previous year’s first quarter.
Belden is reaping the benefits, with things looking brighter in the broadband market, Belden’s key business area. Management says the company will be involved in all aspects of the broadband channel with demand picking up for its networking products. As a result, inventories have stabilized or fallen, while revenue is growing steadily.
The market seems to have realized Belden’s potential, and the stock is now trading at 25.3 times trailing 12-month earnings, slightly above its five year average of 22.4. But given the company’s growth prospects, the stock doesn’t look too overvalued. And given the solid run over the past five years, and a market cap of just $5.2 billion, there’s plenty of runway for further growth.
Glossary
Form 4:A required SEC filing disclosing insider trades of a company’s stock by officers, directors, or significant shareholders.
Insider trading:Buying or selling a company’s securities by its executives, directors, or major shareholders.
Transaction value:The total dollar amount received or paid in a securities trade.
Post-transaction holding:The number of shares an insider owns after completing a trade.
Outstanding shares:The total number of a company’s shares currently held by all shareholders.
50-day moving average (MA50):The average closing price of a stock over the previous 50 trading days, used to identify trends.
200-day moving average (MA200):The average closing price of a stock over the past 200 trading days, indicating long-term trends.
YTD performance:Year-to-date performance; the total return or change in value of an investment since the start of the calendar year.
Transaction size:The number of shares or dollar value involved in a single securities trade.
Net reductions in holdings:When an insider sells more shares than they acquire, decreasing their ownership stake.
General Counsel (GC):The chief lawyer of a company, responsible for overseeing legal matters.
Mission-critical environments:Settings where system failures can cause significant disruption or harm, requiring highly reliable infrastructure.
