Belden (NYSE:BDC) Receives “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Belden (NYSE:BDC) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $130.00 price objective on the industrial products company’s stock.

BDC has been the topic of several other reports. Truist Financial boosted their target price on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Belden presently has an average rating of “Buy” and a consensus price target of $122.75.

Belden Trading Down 0.8 %

NYSE:BDC opened at $114.23 on Monday. The stock has a fifty day simple moving average of $117.04 and a 200 day simple moving average of $113.30. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.75 and a beta of 1.08. Belden has a 1-year low of $78.64 and a 1-year high of $131.82. The company has a quick ratio of 1.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. Sell-side analysts forecast that Belden will post 7.76 earnings per share for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Thursday, December 12th. Belden’s dividend payout ratio (DPR) is presently 4.16%.

Institutional Investors Weigh In On Belden

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after buying an additional 576,768 shares during the last quarter. Foundry Partners LLC bought a new stake in Belden in the third quarter worth approximately $11,814,000. State Street Corp increased its stake in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after purchasing an additional 100,145 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Belden by 169.6% during the 4th quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company’s stock valued at $16,477,000 after purchasing an additional 92,037 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Belden in the 3rd quarter valued at $82,320,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.