Belden Inc (BDC) Receives Average Recommendation of “Buy” from Analysts
Belden Inc (NYSE:BDC) has received a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $85.86.
A number of equities analysts recently commented on BDC shares. Guggenheim started coverage on shares of Belden in a research note on Tuesday, July 11th. They issued a “buy” rating and a $90.00 price objective for the company. CL King started coverage on shares of Belden in a research note on Wednesday, June 21st. They issued a “neutral” rating for the company. Goldman Sachs Group, Inc. (The) started coverage on shares of Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. BidaskClub raised shares of Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd.
In other news, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares of the company’s stock, valued at $391,945.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,230 shares of company stock worth $1,775,189. Insiders own 1.31% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in shares of Belden during the second quarter worth $369,478,000. BlackRock Inc. increased its position in shares of Belden by 0.7% during the second quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock worth $324,082,000 after purchasing an additional 31,973 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Belden by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock worth $269,145,000 after purchasing an additional 14,086 shares in the last quarter. State Street Corp increased its position in shares of Belden by 1.7% during the second quarter. State Street Corp now owns 1,393,807 shares of the industrial products company’s stock worth $105,133,000 after purchasing an additional 22,944 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Belden by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,233,000 shares of the industrial products company’s stock worth $93,006,000 after purchasing an additional 101,168 shares in the last quarter.
Belden (BDC) opened at 86.10 on Wednesday. The company’s 50-day moving average price is $78.97 and its 200-day moving average price is $73.88. Belden has a 52-week low of $60.06 and a 52-week high of $86.31. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 37.43 and a beta of 2.26.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. The company had revenue of $610.63 million during the quarter, compared to the consensus estimate of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. Belden’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Equities research analysts expect that Belden will post $5.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Thursday, September 14th. Belden’s payout ratio is presently 8.66%.
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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