ValuEngine downgraded shares of Belden (NYSE:BDC) from a sell rating to a strong sell rating in a research report report published on Thursday.
Several other equities analysts also recently weighed in on BDC. TheStreet raised Belden from a c rating to a b- rating in a research report on Tuesday, August 21st. Zacks Investment Research downgraded Belden from a buy rating to a hold rating in a research report on Tuesday, October 23rd. Canaccord Genuity set a $88.00 target price on Belden and gave the company a buy rating in a research report on Wednesday, July 25th. Finally, Guggenheim reaffirmed a buy rating and issued a $77.00 target price on shares of Belden in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Belden presently has an average rating of Hold and an average target price of $73.40.
NYSE BDC traded up $2.51 during trading on Thursday, hitting $54.81. The stock had a trading volume of 56,408 shares, compared to its average volume of 355,341. The company has a market cap of $2.31 billion, a P/E ratio of 10.07 and a beta of 2.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.79 and a quick ratio of 1.26. Belden has a twelve month low of $50.71 and a twelve month high of $87.14.
Belden (NYSE:BDC) last released its earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. The company had revenue of $659.00 million during the quarter, compared to the consensus estimate of $679.15 million. Belden had a return on equity of 20.50% and a net margin of 2.52%. Belden’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. On average, analysts anticipate that Belden will post 6.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 17th. Belden’s payout ratio is presently 3.74%.
In related news, Chairman John S. Stroup acquired 9,250 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $53.44 per share, for a total transaction of $494,320.00. Following the purchase, the chairman now owns 21,713 shares of the company’s stock, valued at approximately $1,160,342.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.34% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BDC. Victory Capital Management Inc. boosted its stake in shares of Belden by 392.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,303,568 shares of the industrial products company’s stock valued at $79,673,000 after buying an additional 1,038,628 shares during the period. Boston Partners boosted its stake in shares of Belden by 22.0% in the 2nd quarter. Boston Partners now owns 3,933,211 shares of the industrial products company’s stock valued at $240,398,000 after buying an additional 709,076 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Belden by 28.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,098,575 shares of the industrial products company’s stock valued at $67,145,000 after buying an additional 241,889 shares during the period. Investment Counselors of Maryland LLC boosted its stake in shares of Belden by 103.0% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 459,161 shares of the industrial products company’s stock valued at $28,064,000 after buying an additional 232,960 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Belden by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,429,516 shares of the industrial products company’s stock valued at $87,372,000 after buying an additional 231,559 shares during the period.
Belden Company Profile
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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