Belden Inc. (NYSE:BDC – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Benchmark raised their price target on the stock from $115.00 to $120.00. Benchmark currently has a buy rating on the stock. Belden traded as high as $109.00 and last traded at $108.83, with a volume of 139299 shares. The stock had previously closed at $106.29.
BDC has been the subject of several other research reports. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Truist Financial upped their target price on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.50.
Read Our Latest Research Report on BDC
Insiders Place Their Bets
Hedge Funds Weigh In On Belden
A number of hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Belden in the second quarter valued at $28,000. Whittier Trust Co. boosted its position in Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares during the period. Rise Advisors LLC purchased a new position in Belden during the 1st quarter valued at about $32,000. Quadrant Capital Group LLC increased its holdings in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Belden in the fourth quarter worth approximately $72,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Belden Stock Performance
The firm’s fifty day moving average is $99.03 and its 200 day moving average is $93.67. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 21.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25.
Belden (NYSE:BDC – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the previous year, the company posted $1.91 EPS. Belden’s revenue was down 12.7% on a year-over-year basis. On average, analysts predict that Belden Inc. will post 6.04 EPS for the current fiscal year.
Belden Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 3.91%.
About Belden
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.
Featured Stories
- Five stocks we like better than Belden
- Golden Cross Stocks: Pattern, Examples and Charts
- How Much Can You Make in Stocks in One Month?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- This Is the Top Large-Cap Stock Insiders Are Buying
- ESG Stocks, What Investors Should Know
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
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.