Cross Research cut shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat.com reports.
A number of other research analysts have also commented on BDC. Deutsche Bank raised their price target on Belden from $85.00 to $92.00 and gave the company a buy rating in a report on Thursday, August 3rd. Canaccord Genuity reissued a buy rating and set a $83.00 price target on shares of Belden in a report on Friday, August 4th. BidaskClub raised Belden from a sell rating to a hold rating in a report on Saturday, August 26th. ValuEngine raised Belden from a hold rating to a buy rating in a report on Monday, September 11th. Finally, Guggenheim reissued a buy rating and set a $90.00 price target on shares of Belden in a report on Monday, September 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $87.38.
Shares of Belden (NYSE:BDC) opened at $84.74 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.26 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $3,546.82, a price-to-earnings ratio of 16.43 and a beta of 2.26. Belden has a one year low of $64.60 and a one year high of $86.85.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. The company had revenue of $621.74 million for the quarter, compared to analysts’ expectations of $626.05 million. Belden had a return on equity of 17.52% and a net margin of 4.03%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. equities research analysts anticipate that Belden will post 5.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, December 14th. Belden’s dividend payout ratio (DPR) is 13.79%.
In related news, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. 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. 1.31% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BDC. Janus Henderson Group PLC acquired a new position in Belden during the second quarter worth about $369,478,000. Boston Partners grew its holdings in Belden by 231.9% during the third quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock worth $182,347,000 after acquiring an additional 1,582,031 shares during the period. Lazard Asset Management LLC grew its holdings in Belden by 223.2% during the second quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock worth $35,816,000 after acquiring an additional 327,914 shares during the period. Macquarie Group Ltd. acquired a new position in Belden during the second quarter worth about $23,082,000. Finally, Royal Bank of Canada increased its stake in Belden by 3,024.6% in the 2nd quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock worth $17,873,000 after purchasing an additional 229,359 shares in the last quarter.
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Belden Company Profile
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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