Belden Inc. (NYSE:BDC - Get Free Report) saw strong trading volume on Thursday . 247,432 shares traded hands during mid-day trading, a decline of 3% from the previous session's volume of 254,546 shares.The stock last traded at $104.01 and had previously closed at $106.53.
Analyst Ratings Changes
Several equities analysts have recently issued reports on BDC shares. StockNews.com upgraded shares of Belden from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Loop Capital lowered their price objective on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Belden has a consensus rating of "Buy" and an average price target of $130.25.
View Our Latest Report on BDC
Belden Stock Up 2.8 %
The company's 50-day moving average is $111.47 and its two-hundred day moving average is $114.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The company has a market cap of $4.22 billion, a P/E ratio of 21.77 and a beta of 1.02.
Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. As a group, equities analysts predict that Belden Inc. will post 7.07 earnings per share for the current fiscal year.
Belden Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden's payout ratio is 4.16%.
Insider Activity at Belden
In other news, SVP Leah Tate sold 2,400 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the sale, the senior vice president now owns 23,243 shares of the company's stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the transaction, the chief executive officer now directly owns 107,129 shares in the company, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,428 shares of company stock worth $2,589,774 over the last quarter. Company insiders own 1.59% of the company's stock.
Institutional Trading of Belden
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Belden in the 4th quarter worth $26,000. Quarry LP increased its position in Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after buying an additional 265 shares in the last quarter. First Horizon Advisors Inc. increased its position in Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock worth $50,000 after buying an additional 209 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Belden in the fourth quarter worth about $61,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after buying an additional 199 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.
Belden Company Profile
(
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Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.
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