Belden (BDC) Shares Down 5.9%

Belden (NYSE:BDC)’s share price dropped 5.9% during mid-day trading on Friday . The company traded as low as $69.86 and last traded at $65.88. Approximately 770,871 shares traded hands during trading, an increase of 115% from the average daily volume of 358,504 shares. The stock had previously closed at $69.99.

BDC has been the subject of a number of research reports. Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Belden in a research report on Wednesday, December 6th. Canaccord Genuity restated a “buy” rating and set a $94.00 target price on shares of Belden in a research report on Friday, December 1st. Finally, ValuEngine cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Belden currently has an average rating of “Hold” and a consensus target price of $93.00.

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The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.58 and a current ratio of 2.02. The firm has a market capitalization of $2,706.65, a PE ratio of 12.13 and a beta of 2.34.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.15). The firm had revenue of $604.88 million during the quarter, compared to analyst estimates of $648.92 million. Belden had a net margin of 3.90% and a return on equity of 18.20%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. equities research analysts predict that Belden will post 6.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, March 14th. Belden’s dividend payout ratio is presently 14.60%.

In other news, SVP Ross Rosenberg sold 779 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total value of $58,425.00. Following the completion of the transaction, the senior vice president now owns 5,329 shares of the company’s stock, valued at $399,675. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.31% of the company’s stock.

Several large investors have recently bought and sold shares of BDC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Belden by 41.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock valued at $190,000 after buying an additional 718 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Belden in the fourth quarter valued at approximately $197,000. Zeke Capital Advisors LLC acquired a new position in shares of Belden in the fourth quarter valued at approximately $202,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Belden by 550.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock valued at $212,000 after buying an additional 2,229 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of Belden in the third quarter valued at approximately $224,000.

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About Belden

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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