Shares of Belden Inc. (NYSE:BDC) shot up 5% during trading on Friday following insider buying activity. The company traded as high as $56.26 and last traded at $54.94. 1,429,002 shares changed hands during trading, an increase of 218% from the average session volume of 449,551 shares. The stock had previously closed at $52.30.
Specifically, Chairman John S. Stroup bought 9,250 shares of Belden stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $53.44 per share, for a total transaction of $494,320.00. Following the completion of the transaction, the chairman now owns 21,713 shares of the company’s stock, valued at $1,160,342.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.34% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on BDC. ValuEngine upgraded shares of Belden from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. TheStreet upgraded shares of Belden from a “c” rating to a “b-” rating in a research report on Tuesday, August 21st. Canaccord Genuity reduced their target price on shares of Belden from $88.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday. Longbow Research lowered shares of Belden from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Cross Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Belden has a consensus rating of “Hold” and a consensus price target of $73.40.
The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 10.27 and a beta of 2.28. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 1.10.
Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. Belden had a net margin of 2.52% and a return on equity of 20.50%. The business had revenue of $659.00 million for the quarter, compared to analyst estimates of $679.15 million. During the same period in the prior year, the business posted $1.49 earnings per share. Belden’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Belden Inc. will post 6.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Tuesday, September 18th were issued a $0.05 dividend. The ex-dividend date was Monday, September 17th. This represents a $0.20 annualized dividend and a yield of 0.36%. Belden’s dividend payout ratio is currently 3.74%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank acquired a new position in Belden in the third quarter valued at approximately $159,000. US Bancorp DE lifted its holdings in Belden by 83.0% in the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock valued at $161,000 after buying an additional 1,192 shares during the period. Howe & Rusling Inc. lifted its holdings in Belden by 14,270.0% in the second quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock valued at $176,000 after buying an additional 2,854 shares during the period. Balter Liquid Alternatives LLC acquired a new position in Belden in the second quarter valued at approximately $210,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Belden in the second quarter valued at approximately $225,000.
About Belden (NYSE:BDC)
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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