Belden Inc (BDC) Reaches New 1-Year High at $82.25
Belden Inc (NYSE:BDC) reached a new 52-week high on Monday . The company traded as high as $82.25 and last traded at $81.99, with a volume of 188,605 shares trading hands. The stock had previously closed at $80.53.
A number of brokerages recently issued reports on BDC. BidaskClub lowered Belden from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) began coverage on Belden in a research report on Friday, June 23rd. They issued a “buy” rating and a $93.00 target price on the stock. ValuEngine raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Guggenheim initiated coverage on Belden in a research note on Tuesday, July 11th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and set a $83.00 price target on shares of Belden in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Belden presently has a consensus rating of “Buy” and a consensus price target of $85.88.
The company has a market cap of $3.46 billion, a price-to-earnings ratio of 35.52 and a beta of 2.26. The company’s 50-day moving average price is $74.86 and its 200-day moving average price is $72.51.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.08. The business had revenue of $610.63 million during the quarter, compared to analysts’ expectations of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. Equities research analysts expect that Belden Inc will post $5.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.25%. Belden’s payout ratio is currently 8.66%.
In other news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.31% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new stake in Belden during the second quarter worth about $369,478,000. BlackRock Inc. boosted its position in Belden by 0.7% during the second quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock valued at $324,082,000 after purchasing an additional 31,973 shares during the last quarter. Vanguard Group Inc. boosted its position in Belden by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock valued at $269,145,000 after purchasing an additional 14,086 shares during the last quarter. State Street Corp boosted its position in Belden by 1.7% during the second quarter. State Street Corp now owns 1,393,807 shares of the industrial products company’s stock valued at $105,133,000 after purchasing an additional 22,944 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Belden by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,233,000 shares of the industrial products company’s stock valued at $93,006,000 after purchasing an additional 101,168 shares in the last quarter.
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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).
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