Belden Inc (NYSE:BDC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $85.82 and last traded at $85.97, with a volume of 107,811 shares trading hands. The stock had previously closed at $84.65.
A number of research analysts have recently commented on BDC shares. Guggenheim started coverage on Belden in a research note on Tuesday, July 11th. They issued a “buy” rating and a $90.00 target price for the company. CL King started coverage on Belden in a research note on Wednesday, June 21st. They issued a “neutral” rating for the company. Goldman Sachs Group, Inc. (The) started coverage on Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 target price for the company. BidaskClub upgraded Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research cut Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.88.
The stock has a market capitalization of $3.57 billion, a P/E ratio of 36.71 and a beta of 2.26. The company’s 50-day moving average price is $79.29 and its 200-day moving average price is $73.95.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The firm had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. Belden’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, equities analysts expect that Belden Inc will post $5.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Belden’s dividend payout ratio is currently 8.66%.
In other Belden news, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now owns 4,967 shares in the company, valued at $391,945.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,230 shares of company stock valued at $1,775,189. 1.31% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of BDC. Janus Henderson Group PLC purchased a new stake in Belden during the second quarter worth $369,478,000. BlackRock Inc. lifted its holdings in Belden by 22,743.7% during the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock worth $295,057,000 after buying an additional 4,245,792 shares during the period. Lazard Asset Management LLC lifted its holdings in Belden by 223.2% during the second quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock worth $35,816,000 after buying an additional 327,914 shares during the period. Macquarie Group Ltd. purchased a new stake in Belden during the second quarter worth $23,082,000. Finally, Royal Bank of Canada lifted its holdings in Belden by 3,024.6% during the second quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock worth $17,873,000 after buying an additional 229,359 shares during the period.
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Belden Company Profile
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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