Insider Selling: John Stroup Unloads 181,237 Shares of Belden Stock

Belden (NYSE:BDC) CEO John Stroup sold 181,237 shares of Belden stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $56.56, for a total value of $10,250,764.72. Following the completion of the transaction, the chief executive officer now directly owns 54,178 shares of the company's stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Separately, analysts at Canaccord Genuity raised their price target on shares of Belden from $65.00 to $70.00 in a research note to investors on Friday, August 9th. They now have a "buy" rating on the stock.

Shares of Belden (NYSE:BDC) traded down 1.37% on Wednesday, hitting $56.23. 203,180 shares of the company's stock traded hands. Belden has a 52 week low of $33.76 and a 52 week high of $59.95. The stock's 50-day moving average is $56.64 and its 200-day moving average is $52.23. The company has a market cap of $2.452 billion and a P/E ratio of 14.36.

Belden (NYSE:BDC) last announced its earnings results on Thursday, August 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The company had revenue of $532.60 million for the quarter, compared to the consensus estimate of $536.88 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company's revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that Belden will post $3.68 EPS for the current fiscal year.

Belden Inc (NYSE:BDC) designs, manufactures and markets cable, connectivity, and networking products in markets including industrial, enterprise, and broadcast.

2013/08/22 09:07:40 Source：(Daily Political)

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