Belden Inc. (BDC) Sees Unusually-High Trading Volume
Shares of Belden Inc. (NYSE:BDC) saw unusually-strong trading volume on Friday . Approximately 711,710 shares changed hands during 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.
A number of equities research analysts have commented 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. Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target on shares of Belden in a report on Monday, April 4th. Finally, Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Friday, May 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $74.50.
The firm’s 50-day moving average price is $64.23 and its 200 day moving average price is $57.29. The stock has a market capitalization of $3.05 billion and a PE ratio of 25.23.
Belden (NYSE:BDC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.28. During the same period last year, the firm earned $1.21 earnings per share. The company had revenue of $601.60 million for the quarter, compared to analysts’ expectations of $582.25 million. Equities research analysts forecast that Belden Inc. will post $5.61 EPS for the current year.
The firm also recently declared 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 annualized dividend and a yield of 0.28%. The ex-dividend date was Tuesday, June 14th.
In other Belden news, SVP Ross Rosenberg sold 2,274 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $74.00, for a total value of $168,276.00. Following the sale, the senior vice president now directly owns 7,603 shares of the company’s stock, valued at $562,622. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Several hedge funds and institutional investors have recently modified their holdings of BDC. 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 worth $3,720,000 after buying an additional 895 shares during the period. 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 worth $1,036,000 after buying an additional 1,143 shares during the period. I.G. Investment Management LTD. increased its position in shares of Belden by 7.6% in the fourth quarter. I.G. Investment Management LTD. now owns 24,588 shares of the company’s stock worth $1,172,000 after buying an additional 1,727 shares during the period. Principal Financial Group Inc. increased its position in shares of Belden by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 134,309 shares of the company’s stock worth $6,404,000 after buying an additional 4,160 shares during the period. 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 worth $7,075,000 after buying an additional 11,148 shares during the period.
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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