Belden Inc. (NYSE:BDC) – Investment analysts at Seaport Global Securities reduced their FY2018 EPS estimates for Belden in a research report issued to clients and investors on Friday, February 15th. Seaport Global Securities analyst M. Mccall now forecasts that the industrial products company will earn $6.12 per share for the year, down from their previous forecast of $6.15. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Belden’s Q4 2018 earnings at $1.63 EPS, Q2 2019 earnings at $1.56 EPS, Q3 2019 earnings at $1.66 EPS and Q4 2019 earnings at $1.80 EPS.
A number of other research firms also recently issued reports on BDC. Longbow Research raised shares of Belden from a “neutral” rating to a “buy” rating and set a $41.92 price target on the stock in a research note on Thursday, January 3rd. Canaccord Genuity lowered their price target on Belden from $88.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Guggenheim reissued a “buy” rating and issued a $77.00 target price on shares of Belden in a report on Wednesday, October 31st. TheStreet lowered Belden from a “b-” rating to a “c+” rating in a research note on Thursday, November 8th. Finally, Cross Research downgraded Belden from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Belden has an average rating of “Hold” and an average target price of $66.39.
Belden declared that its board has authorized a stock repurchase program on Thursday, November 29th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Wednesday, March 13th. Belden’s payout ratio is currently 3.74%.
Several institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. grew its holdings in shares of Belden by 1.2% during the third quarter. American International Group Inc. now owns 108,690 shares of the industrial products company’s stock valued at $7,762,000 after buying an additional 1,301 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Belden during the 3rd quarter worth about $2,159,000. Bbva Compass Bancshares Inc. lifted its position in shares of Belden by 46.9% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 9,848 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 3,144 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Belden during the 4th quarter worth about $200,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Belden during the 3rd quarter worth about $1,626,000.
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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