Belden (NYSE:BDC) Sets New 52-Week High – Time to Buy?

Belden Inc. (NYSE:BDC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $118.36 and last traded at $118.36, with a volume of 15986 shares. The stock had previously closed at $117.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Benchmark upped their price target on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Truist Financial increased their target price on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research started coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target for the company. Finally, StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

Belden Stock Performance

The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 23.10 and a beta of 1.07. The stock’s fifty day moving average is $105.32 and its two-hundred day moving average is $96.47. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70.

Belden (NYSE:BDC) last announced 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. The company had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.91 earnings per share. On average, analysts expect that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Activity

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,318 shares of company stock valued at $1,020,715. Company insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Belden by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 200 shares during the last quarter. Matrix Trust Co acquired a new stake in shares of Belden during the third quarter worth $25,000. Atlas Capital Advisors LLC lifted its holdings in shares of Belden by 16.3% during the second quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 246 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Belden by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.