Belden Sees Unusually High Options Volume (BDC)

Belden Inc. (NYSE:BDC) was the target of some unusual options trading activity on Wednesday. Investors bought 1,500 put options on the company. This represents an increase of approximately 2,074% compared to the average volume of 69 put options.

Belden opened at $62.64 on Thursday, according to Marketbeat Ratings. The company has a quick ratio of 1.45, a current ratio of 2.01 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 11.18 and a beta of 2.32. Belden has a 12-month low of $53.65 and a 12-month high of $87.14.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.06. The firm had revenue of $605.57 million during the quarter, compared to the consensus estimate of $584.55 million. Belden had a net margin of 2.87% and a return on equity of 19.45%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. research analysts forecast that Belden will post 6.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Wednesday, June 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 19th. Belden’s dividend payout ratio is currently 3.74%.

In related news, Director Bryan C. Cressey purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $54.31 per share, for a total transaction of $108,620.00. Following the purchase, the director now owns 123,875 shares in the company, valued at $6,727,651.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.34% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in Belden by 26.7% in the 4th quarter. Arizona State Retirement System now owns 30,355 shares of the industrial products company’s stock valued at $2,342,000 after purchasing an additional 6,399 shares during the period. Eaton Vance Management boosted its holdings in Belden by 41.2% in the 4th quarter. Eaton Vance Management now owns 43,705 shares of the industrial products company’s stock valued at $3,373,000 after purchasing an additional 12,745 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Belden by 8.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 100,949 shares of the industrial products company’s stock valued at $7,791,000 after purchasing an additional 7,715 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Belden by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 718 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Belden by 10.9% in the 4th quarter. California Public Employees Retirement System now owns 93,859 shares of the industrial products company’s stock valued at $7,243,000 after purchasing an additional 9,217 shares during the period.

A number of brokerages recently commented on BDC. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, May 31st. ValuEngine lowered shares of Belden from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 9th. Canaccord Genuity reiterated a “buy” rating and issued a $88.00 price target on shares of Belden in a research note on Thursday, May 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $90.00 price target on shares of Belden in a research note on Friday, March 30th. Finally, SunTrust Banks upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Belden currently has an average rating of “Buy” and an average target price of $86.00.

Belden Company Profile

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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