Belden Inc. (NYSE:BDC) EVP Ashish Chand purchased 4,345 shares of the company's stock in a transaction that occurred on Monday, September 13th. The stock was bought at an average cost of $57.42 per share, with a total value of $249,489.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of NYSE:BDC traded up $1.51 during midday trading on Wednesday, hitting $57.72. 8,161 shares of the stock were exchanged, compared to its average volume of 276,470. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 26.53 and a beta of 1.47. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.48 and a current ratio of 2.00. The business's 50-day moving average price is $52.73 and its 200 day moving average price is $49.53. Belden Inc. has a 12 month low of $28.55 and a 12 month high of $59.13.
Belden (NYSE:BDC) last released its quarterly earnings results on Tuesday, August 3rd. The industrial products company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.93 by $0.28. The company had revenue of $602.00 million for the quarter, compared to analysts' expectations of $541.38 million. Belden had a return on equity of 20.75% and a net margin of 4.56%. The business's quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, sell-side analysts expect that Belden Inc. will post 4.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Tuesday, September 14th. Belden's payout ratio is presently 7.27%.
A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Belden from $39.00 to $46.00 and gave the company a "sell" rating in a research note on Friday, August 6th. Canaccord Genuity raised Belden from a "hold" rating to a "buy" rating and boosted their target price for the stock from $53.00 to $68.00 in a research note on Thursday, September 9th. Finally, Zacks Investment Research raised Belden from a "hold" rating to a "strong-buy" rating and set a $61.00 target price for the company in a research note on Monday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Belden has a consensus rating of "Buy" and a consensus price target of $57.20.
A number of hedge funds have recently made changes to their positions in BDC. Segall Bryant & Hamill LLC bought a new stake in Belden in the second quarter valued at approximately $28,875,000. Pzena Investment Management LLC boosted its holdings in shares of Belden by 14.2% during the 1st quarter. Pzena Investment Management LLC now owns 2,247,198 shares of the industrial products company's stock worth $99,708,000 after buying an additional 278,885 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Belden by 5.6% during the 1st quarter. BlackRock Inc. now owns 5,139,940 shares of the industrial products company's stock worth $228,060,000 after buying an additional 273,430 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Belden by 31.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,107,057 shares of the industrial products company's stock worth $55,985,000 after buying an additional 263,666 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Belden by 152.0% during the 2nd quarter. Royal Bank of Canada now owns 403,209 shares of the industrial products company's stock worth $20,391,000 after buying an additional 243,213 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company's stock.
Belden Company Profile
Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.
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