Shares of Belden Inc. (NYSE:BDC) gapped down before the market opened on Tuesday . The stock had previously closed at $64.41, but opened at $64.73. Belden shares last traded at $66.91, with a volume of 87,970 shares changing hands.

BDC has been the subject of a number of research analyst reports. TheStreet upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, March 21st. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target (up previously from $60.00) on shares of Belden in a research report on Thursday, March 31st. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 price target on shares of Belden in a research report on Monday, April 4th. Finally, Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.00.

The stock has a market capitalization of $2.85 billion and a P/E ratio of 28.36. The firm has a 50 day moving average price of $62.65 and a 200-day moving average price of $56.14.

Belden (NYSE:BDC) last posted its earnings results on Wednesday, May 4th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The firm earned $541.50 million during the quarter, compared to the consensus estimate of $541.55 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Belden Inc. will post $5.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Tuesday, June 14th.

Other hedge funds recently modified their holdings of the company. Janus Capital Management boosted its stake in shares of Belden by 64.2% in the third quarter. Janus Capital Management now owns 3,846,462 shares of the company’s stock worth $179,591,000 after buying an additional 1,504,197 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of 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 worth $1,036,000 after buying an additional 1,143 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Belden by 1.2% in the fourth quarter. Rhumbline Advisers now owns 78,015 shares of the company’s stock worth $3,720,000 after buying an additional 895 shares during the last quarter. Stevens Capital Management LP boosted its stake in shares of Belden by 280.4% in the fourth quarter. Stevens Capital Management LP now owns 25,932 shares of the company’s stock worth $1,236,000 after buying an additional 19,115 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in shares of Belden by 8.1% in the fourth quarter. State of Wisconsin Investment Board now owns 148,389 shares of the company’s stock worth $7,075,000 after buying an additional 11,148 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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