Belden Inc. (BDC) Trading Up 4.9%
Shares of Belden Inc. (NYSE:BDC) were up 4.9% on Friday . The stock traded as high as $63.95 and last traded at $63.55, with a volume of 165,724 shares. The stock had previously closed at $60.61.
Several analysts recently weighed in on BDC shares. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Belden in a report on Tuesday, June 28th. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Friday, May 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Belden in a report on Monday, April 4th. Finally, TheStreet raised Belden from a “hold” rating to a “buy” rating in a report on Monday, March 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $70.00.
The company has a market capitalization of $2.68 billion and a PE ratio of 26.68. The firm’s 50-day moving average is $62.27 and its 200 day moving average is $55.67.
Belden (NYSE:BDC) last released its earnings results on Wednesday, May 4th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.05. During the same period in the prior year, the company earned $1.00 earnings per share. The business earned $541.50 million during the quarter, compared to the consensus estimate of $541.55 million. The business’s revenue was down 1.0% on a year-over-year basis. Equities analysts anticipate that Belden Inc. will post $5.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Thursday, June 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Tuesday, June 14th.
Other institutional investors have added to or reduced their stakes in the company. Janus Capital Management raised its position in Belden by 64.2% in the third quarter. Janus Capital Management now owns 3,846,462 shares of the company’s stock valued at $179,591,000 after buying an additional 1,504,197 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position 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 in the last quarter. Rhumbline Advisers raised its position 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 in the last quarter. Chartwell Investment Partners LLC raised its position in Belden by 4.6% in the fourth quarter. Chartwell Investment Partners LLC now owns 223,847 shares of the company’s stock valued at $10,673,000 after buying an additional 9,795 shares in the last quarter. Finally, Stevens Capital Management LP raised its position 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 in 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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