A number of other equities analysts have also recently weighed in on the company. Drexel Hamilton began coverage on Belden in a report on Friday. They issued a hold rating for the company. Zacks Investment Research upgraded Belden from a sell rating to a hold rating in a research note on Wednesday, January 4th. Deutsche Bank AG began coverage on Belden in a research note on Thursday, December 15th. They issued a buy rating and a $85.00 target price for the company. Canaccord Genuity reiterated a buy rating and issued a $83.00 target price on shares of Belden in a research note on Tuesday, December 6th. Finally, Stifel Nicolaus dropped their target price on Belden from $86.00 to $80.00 and set a buy rating for the company in a research note on Tuesday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Belden currently has an average rating of Buy and an average target price of $81.67.
Belden (NYSE:BDC) traded up 0.70% during midday trading on Monday, reaching $74.88. The company’s stock had a trading volume of 24,983 shares. The stock’s 50 day moving average is $76.71 and its 200 day moving average is $72.05. The stock has a market cap of $3.16 billion, a P/E ratio of 28.26 and a beta of 2.24. Belden has a 12-month low of $44.60 and a 12-month high of $81.33.
Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. Belden had a return on equity of 20.29% and a net margin of 5.43%. The company earned $612.40 million during the quarter, compared to analysts’ expectations of $616.10 million. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that Belden will post $5.07 earnings per share for the current year.
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In other news, Director Judy L. Brown sold 9,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $76.50, for a total value of $688,500.00. Following the completion of the sale, the director now owns 13,268 shares of the company’s stock, valued at $1,015,002. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christoph Gusenleitner sold 3,720 shares of the company’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $78.24, for a total value of $291,052.80. Following the completion of the sale, the executive vice president now directly owns 4,548 shares of the company’s stock, valued at approximately $355,835.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,531 shares of company stock valued at $6,110,354. 1.37% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Belden by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the company’s stock worth $219,000 after buying an additional 25 shares in the last quarter. HM Capital Management LLC increased its position in shares of Belden by 1.0% in the third quarter. HM Capital Management LLC now owns 3,555 shares of the company’s stock worth $245,000 after buying an additional 34 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Belden by 0.6% in the third quarter. State Treasurer State of Michigan now owns 17,000 shares of the company’s stock worth $1,173,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Belden by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 2,489 shares of the company’s stock worth $172,000 after buying an additional 165 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Belden by 6.9% in the third quarter. LS Investment Advisors LLC now owns 2,696 shares of the company’s stock worth $186,000 after buying an additional 174 shares in the last quarter.
Belden Company Profile
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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