Belden Inc. (NYSE:BDC) SVP Henk Derksen acquired 1,431 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average price of $53.65 per share, with a total value of $76,773.15. Following the completion of the acquisition, the senior vice president now owns 38,857 shares of the company’s stock, valued at approximately $2,084,678.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
BDC stock opened at $55.31 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 9.13 and a beta of 2.41. Belden Inc. has a twelve month low of $50.71 and a twelve month high of $87.14.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.01. The firm 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 21.28% and a net margin of 5.83%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. On average, research analysts predict that Belden Inc. will post 6.09 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Strs Ohio boosted its stake in shares of Belden by 3.2% during the 2nd quarter. Strs Ohio now owns 71,200 shares of the industrial products company’s stock worth $4,351,000 after acquiring an additional 2,200 shares during the period. Legal & General Group Plc boosted its stake in shares of Belden by 13.7% during the 2nd quarter. Legal & General Group Plc now owns 50,164 shares of the industrial products company’s stock worth $3,066,000 after acquiring an additional 6,031 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Belden by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 184,830 shares of the industrial products company’s stock worth $12,743,000 after acquiring an additional 3,841 shares during the period. Engineers Gate Manager LP bought a new position in shares of Belden during the 2nd quarter worth approximately $2,146,000. Finally, Northern Trust Corp boosted its stake in shares of Belden by 3.5% during the 2nd quarter. Northern Trust Corp now owns 659,034 shares of the industrial products company’s stock worth $40,280,000 after acquiring an additional 22,261 shares during the period.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Belden from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Canaccord Genuity decreased their price target on Belden from $88.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. TheStreet upgraded Belden from a “c” rating to a “b-” rating in a research note on Tuesday, August 21st. Zacks Investment Research downgraded Belden from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Finally, Longbow Research downgraded Belden from a “buy” rating to a “neutral” rating in a research note on Thursday, November 1st. 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. The company presently has an average rating of “Hold” and a consensus price target of $73.40.
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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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