Belden Inc. (BDC) Stock Price Down 2.4%
Belden Inc. (NYSE:BDC) fell 2.4% during mid-day trading on Thursday . The stock traded as low as $71.86 and last traded at $72.79, with a volume of 226,478 shares traded. The stock had previously closed at $74.59.
Several research firms have recently issued reports on BDC. Zacks Investment Research cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Belden in a research report on Tuesday, June 28th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $74.50.
The company has a 50 day moving average of $72.42 and a 200 day moving average of $63.66. The company has a market cap of $3.10 billion and a PE ratio of 25.63.
Belden (NYSE:BDC) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.26 by $0.28. During the same period last year, the company posted $1.21 EPS. The company had revenue of $601.60 million for the quarter, compared to analyst estimates of $582.25 million. Equities research analysts predict that Belden Inc. will post $5.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, September 13th.
In related news, SVP Ross Rosenberg sold 713 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $69.00, for a total transaction of $49,197.00. Following the completion of the transaction, the senior vice president now owns 9,877 shares of the company’s stock, valued at $681,513. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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