Belden (NYSE:BDC) Shares Up 0.7%
Belden Inc. (NYSE:BDC) shares were up 0.7% during mid-day trading on Wednesday . The stock traded as high as $51.76 and last traded at $52.09, approximately 132,513 shares were traded during trading. A decline of 58% from the average daily volume of 314,082 shares. The stock had previously closed at $51.73.
A number of research analysts have recently commented on the company. SunTrust Banks lowered their price objective on Belden to $54.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus cut their price objective on Belden from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Zacks Investment Research lowered Belden from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, ValuEngine cut Belden from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.58.
The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 8.65 and a beta of 2.40. The stock’s 50-day simple moving average is $47.01 and its two-hundred day simple moving average is $54.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Thursday, September 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, September 18th. Belden’s dividend payout ratio is currently 3.30%.
In other Belden news, SVP Leo Kulmaczewski purchased 800 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $45.46 per share, for a total transaction of $36,368.00. Following the completion of the acquisition, the senior vice president now directly owns 10,692 shares in the company, valued at $486,058.32. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Phocas Financial Corp. raised its stake in Belden by 105.0% during the 2nd quarter. Phocas Financial Corp. now owns 151,032 shares of the industrial products company’s stock valued at $8,997,000 after purchasing an additional 77,344 shares during the last quarter. United Services Automobile Association grew its position in Belden by 0.3% in the 2nd quarter. United Services Automobile Association now owns 298,532 shares of the industrial products company’s stock worth $17,784,000 after purchasing an additional 856 shares during the last quarter. Nuveen Asset Management LLC grew its position in Belden by 899.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 168,795 shares of the industrial products company’s stock worth $10,055,000 after purchasing an additional 151,902 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Belden by 12.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 41,798 shares of the industrial products company’s stock worth $2,490,000 after purchasing an additional 4,547 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Belden during the 2nd quarter worth about $262,000. Institutional investors and hedge funds own 95.88% of the company’s stock.
Belden Company Profile (NYSE:BDC)
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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