Belden Inc. (BDC) Sees Strong Trading Volume
Shares of Belden Inc. (NYSE:BDC) saw unusually-strong trading volume on Friday . Approximately 711,710 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 597,724 shares.The stock last traded at $72.21 and had previously closed at $71.72.
Several research analysts have recently commented on BDC shares. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Canaccord Genuity reaffirmed a “buy” rating on shares of Belden in a research note on Monday, June 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Belden in a research note on Monday, April 4th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $74.50.
The firm has a market cap of $3.05 billion and a P/E ratio of 25.23. The stock’s 50 day moving average is $64.23 and its 200 day moving average is $57.29.
Belden (NYSE:BDC) last announced its earnings results on Tuesday, July 19th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.28. During the same quarter last year, the firm earned $1.21 earnings per share. The business had revenue of $601.60 million for the quarter, compared to analysts’ expectations of $582.25 million. On average, analysts forecast that Belden Inc. will post $5.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 14th. This represents a $0.20 annualized dividend and a yield of 0.28%.
In other Belden news, SVP Ross Rosenberg sold 2,274 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $74.00, for a total transaction of $168,276.00. Following the sale, the senior vice president now owns 7,603 shares in the company, valued at approximately $562,622. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently bought and sold shares of the stock. Janus Capital Management increased its stake 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 during the last quarter. Boston Partners increased its stake in Belden by 5.6% in the fourth quarter. Boston Partners now owns 540,193 shares of the company’s stock valued at $25,756,000 after buying an additional 28,798 shares during the last quarter. Wells Fargo & Company MN increased its stake in Belden by 42.8% in the fourth quarter. Wells Fargo & Company MN now owns 467,278 shares of the company’s stock valued at $22,280,000 after buying an additional 140,047 shares during the last quarter. Lapides Asset Management LLC increased its stake in Belden by 71.8% in the fourth quarter. Lapides Asset Management LLC now owns 409,200 shares of the company’s stock valued at $19,511,000 after buying an additional 171,000 shares during the last quarter. Finally, Morgan Stanley increased its stake in Belden by 253.8% in the fourth quarter. Morgan Stanley now owns 172,055 shares of the company’s stock valued at $8,203,000 after buying an additional 123,423 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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