Insider Selling: Belden CEO Unloads 34,633 Shares of Stock (BDC)
Belden (NYSE:BDC) CEO John Stroup unloaded 34,633 shares of Belden stock on the open market in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $61.16, for a total transaction of $2,118,154.28. Following the transaction, the chief executive officer now directly owns 48,975 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Canaccord Genuity raised their price target on shares of Belden (NYSE:BDC) from $65.00 to $70.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock.
Shares of Belden (NYSE:BDC) traded up 2.72% on Tuesday, hitting $63.16. The stock had a trading volume of 378,452 shares. Belden has a one year low of $33.76 and a one year high of $61.60. The stock has a 50-day moving average of $57.89 and a 200-day moving average of $53.05. The company has a market cap of $2.754 billion and a P/E ratio of 15.48.
Belden (NYSE:BDC) last announced its earnings results on Thursday, August 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The company had revenue of $532.60 million for the quarter, compared to the consensus estimate of $536.88 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that Belden will post $3.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, September 12th.
Belden Inc (NYSE:BDC) designs, manufactures and markets cable, connectivity, and networking products in markets including industrial, enterprise, and broadcast.
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