Brokerages Set Belden Inc. (NYSE:BDC) PT at $112.00

Shares of Belden Inc. (NYSE:BDC) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $112.00.

BDC has been the subject of a number of recent research reports. Truist Financial increased their price objective on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Benchmark boosted their price objective on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th.

Belden Stock Down 0.9 %

BDC stock opened at $115.87 on Friday. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 22.68 and a beta of 1.07. The company has a fifty day moving average price of $101.96 and a 200 day moving average price of $95.10. 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 has a 12 month low of $60.54 and a 12 month high of $118.26.

Belden (NYSE:BDC) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the prior year, the company earned $1.91 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. Sell-side analysts expect that Belden will post 6.04 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, September 12th. Belden’s dividend payout ratio is presently 3.91%.

Insiders Place Their Bets

In related news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the sale, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares in the company, valued at approximately $3,812,074.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,137 shares of company stock worth $1,095,457. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BDC. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the 2nd quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in Belden during the first quarter worth $32,000. Whittier Trust Co. increased its position in Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after buying an additional 298 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Belden in the second quarter valued at $95,000. 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.