Belden Inc. (NYSE:BDC) Given Average Rating of “Moderate Buy” by Analysts

Belden Inc. (NYSE:BDC) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $108.00.

A number of analysts have recently weighed in on the stock. Loop Capital boosted their target price on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial reissued a “buy” rating and set a $119.00 price objective (up from $101.00) on shares of Belden in a research note on Friday, June 14th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Belden in a research report on Monday, May 6th.

Insiders Place Their Bets

In related news, Director Jonathan C. Klein sold 1,607 shares of Belden stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the completion of the sale, the director now owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the sale, the director now owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,400 shares of company stock valued at $911,900. 1.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Belden

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Belden by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after acquiring an additional 92,544 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Belden by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock valued at $128,148,000 after purchasing an additional 30,268 shares in the last quarter. FMR LLC increased its stake in Belden by 1,365.5% in the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock valued at $99,075,000 after purchasing an additional 956,136 shares in the last quarter. Wellington Management Group LLP grew its stake in Belden by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after acquiring an additional 149,263 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after buying an additional 209,052 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Price Performance

NYSE:BDC opened at $96.11 on Wednesday. The company has a market capitalization of $3.91 billion, a P/E ratio of 18.81 and a beta of 1.09. The business’s 50-day moving average is $90.72 and its 200 day moving average is $84.03. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden has a 12 month low of $60.54 and a 12 month high of $99.13.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the company earned $1.68 EPS. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, equities research analysts forecast that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Thursday, June 13th. Belden’s dividend payout ratio (DPR) is 3.91%.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.