Belden Inc (NYSE:BDC) Chairman John S. Stroup sold 17,227 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Belden Inc (NYSE BDC) opened at 84.44 on Thursday. Belden Inc has a 1-year low of $60.06 and a 1-year high of $86.31. The stock’s 50 day moving average is $79.29 and its 200-day moving average is $73.95. The firm has a market cap of $3.57 billion, a P/E ratio of 36.71 and a beta of 2.26.
Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.08. The firm had revenue of $610.63 million during the quarter, compared to the consensus estimate of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. Analysts forecast that Belden Inc will post $5.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Friday, September 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date was Thursday, September 14th. Belden’s dividend payout ratio is currently 8.66%.
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Several brokerages recently weighed in on BDC. Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Belden in a research note on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and issued a $88.00 target price (up previously from $83.00) on shares of Belden in a research note on Wednesday, September 13th. ValuEngine raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Finally, BidaskClub raised shares of Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.88.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Belden by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 160 shares in the last quarter. Point72 Asia Hong Kong Ltd lifted its stake in Belden by 799.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,831 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Belden by 60.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 841 shares in the last quarter. World Asset Management Inc purchased a new stake in Belden in the 2nd quarter worth about $201,000. Finally, Riverhead Capital Management LLC lifted its stake in Belden by 70.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 1,197 shares in the last quarter.
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).