Belden Inc. (BDC) Shares Gap Up to $59.11
Shares of Belden Inc. (NYSE:BDC) gapped up before the market opened on Thursday . The stock had previously closed at $58.91, but opened at $59.11. Belden shares last traded at $60.04, with a volume of 78,319 shares trading hands.
Several research firms recently commented on BDC. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Canaccord Genuity reissued a “buy” rating and set a $70.00 target price (up from $60.00) on shares of Belden in a research note on Thursday, March 31st. TheStreet upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $72.00 price target on shares of Belden in a report on Monday, April 4th. Five investment analysts have rated the stock with a buy rating, Belden presently has an average rating of “Buy” and a consensus target price of $70.00.
The stock’s 50 day moving average price is $62.27 and its 200-day moving average price is $55.67. The stock has a market cap of $2.55 billion and a price-to-earnings ratio of 25.41.
Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. During the same quarter in the previous year, the business posted $1.00 EPS. The company earned $541.50 million during the quarter, compared to analyst estimates of $541.55 million. The company’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Belden Inc. will post $5.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, June 14th.
Other large investors recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in Belden by 5.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,730 shares of the company’s stock valued at $1,036,000 after buying an additional 1,143 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in Belden by 7.6% in the fourth quarter. I.G. Investment Management LTD. now owns 24,588 shares of the company’s stock valued at $1,172,000 after buying an additional 1,727 shares during the last quarter. Stevens Capital Management LP boosted its stake in Belden by 280.4% in the fourth quarter. Stevens Capital Management LP now owns 25,932 shares of the company’s stock valued at $1,236,000 after buying an additional 19,115 shares during the last quarter. Trexquant Investment LP boosted its stake in Belden by 62.0% in the fourth quarter. Trexquant Investment LP now owns 45,871 shares of the company’s stock valued at $2,187,000 after buying an additional 17,556 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Belden by 1.2% in the fourth quarter. Rhumbline Advisers now owns 78,015 shares of the company’s stock valued at $3,720,000 after buying an additional 895 shares during the last quarter.
Belden Inc is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides industry secure and reliable transmission of data, sound, and video for mission critical applications. The Company operates in four segments: Broadcast Solutions, which provides production, distribution, and connectivity systems for television broadcast, cable, satellite and IPTV industries; Enterprise Connectivity Solutions, which provides network infrastructure solutions for enterprise customers; Industrial Connectivity Solutions, which provides infrastructure components and connectivity systems for a range of industrial automation applications and Industrial IT Solutions, which provides mission-critical networking systems.
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