Insider Selling: Belden EVP Sells 1,692 Shares of Stock (BDC)
Belden (NYSE:BDC) EVP Glenn Pennycook unloaded 1,692 shares of the stock on the open market in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $63.90, for a total value of $108,118.80. Following the completion of the sale, the executive vice president now directly owns 3,761 shares of the company’s stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.
Belden (NYSE:BDC) traded up 0.80% during mid-day trading on Tuesday, hitting $64.30. 210,302 shares of the company’s stock traded hands. Belden has a one year low of $33.76 and a one year high of $64.91. The stock’s 50-day moving average is $58.78 and its 200-day moving average is $53.54. The company has a market cap of $2.804 billion and a price-to-earnings ratio of 16.06.
Belden (NYSE:BDC) last released its earnings data on Thursday, August 8th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts predict that Belden will post $3.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 2nd. Stockholders of record on Monday, September 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date 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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