Insider Buying: Belden Inc. (BDC) Chairman Buys 9,250 Shares of Stock

Belden Inc. (NYSE:BDC) Chairman John S. Stroup bought 9,250 shares of Belden stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $53.44 per share, with a total value of $494,320.00. Following the completion of the acquisition, the chairman now directly owns 21,713 shares of the company’s stock, valued at approximately $1,160,342.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Belden stock opened at $54.94 on Friday. Belden Inc. has a 52-week low of $50.71 and a 52-week high of $87.14. The company has a current ratio of 1.90, a quick ratio of 1.26 and a debt-to-equity ratio of 1.08. The stock has a market cap of $2.23 billion, a PE ratio of 9.13 and a beta of 2.41.

Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.01. Belden had a net margin of 5.83% and a return on equity of 21.28%. The business had revenue of $659.00 million for the quarter, compared to analyst estimates of $679.15 million. During the same period in the previous year, the business posted $1.49 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Belden Inc. will post 6.1 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of BDC. Russell Investments Group Ltd. increased its stake in shares of Belden by 5.9% during the first quarter. Russell Investments Group Ltd. now owns 23,464 shares of the industrial products company’s stock worth $1,617,000 after acquiring an additional 1,317 shares during the period. UBS Group AG grew its position in Belden by 265.2% during the first quarter. UBS Group AG now owns 4,338 shares of the industrial products company’s stock worth $299,000 after buying an additional 3,150 shares during the period. Guggenheim Capital LLC grew its position in Belden by 9.7% during the first quarter. Guggenheim Capital LLC now owns 41,185 shares of the industrial products company’s stock worth $2,839,000 after buying an additional 3,630 shares during the period. Legal & General Group Plc grew its position in Belden by 9.0% during the first quarter. Legal & General Group Plc now owns 44,133 shares of the industrial products company’s stock worth $3,042,000 after buying an additional 3,657 shares during the period. Finally, Xact Kapitalforvaltning AB grew its position in Belden by 38.4% during the first quarter. Xact Kapitalforvaltning AB now owns 6,130 shares of the industrial products company’s stock worth $423,000 after buying an additional 1,700 shares during the period.

A number of equities research analysts have recently commented on BDC shares. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Belden in a report on Wednesday, August 1st. Canaccord Genuity set a $88.00 target price on shares of Belden and gave the company a “buy” rating in a report on Wednesday, July 25th. Cross Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine lowered shares of Belden from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $73.40.

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.

Recommended Story: Liquidity

Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply