Belden Inc. (BDC) Sees Large Volume Increase
Shares of Belden Inc. (NYSE:BDC) saw strong trading volume on Wednesday . 273,529 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 344,581 shares.The stock last traded at $67.97 and had previously closed at $67.63.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Belden from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Belden in a report on Thursday, March 31st. TheStreet upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $72.00 price objective on shares of Belden in a report on Monday, April 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Belden has an average rating of “Buy” and a consensus price target of $70.00.
The firm has a market capitalization of $2.87 billion and a price-to-earnings ratio of 28.56. The company has a 50-day moving average price of $62.79 and a 200-day moving average price of $56.23.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, May 4th. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. During the same period last year, the business posted $1.00 earnings per share. The business earned $541.50 million during the quarter, compared to the consensus estimate of $541.55 million. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Belden Inc. will post $5.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Thursday, June 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Tuesday, June 14th.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Janus Capital Management increased its position 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 valued at $179,591,000 after buying an additional 1,504,197 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position 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 valued at $1,036,000 after buying an additional 1,143 shares during the last quarter. Rhumbline Advisers increased its position in shares of 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. Stevens Capital Management LP increased its position 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 valued at $1,236,000 after buying an additional 19,115 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position 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 valued at $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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