Belden (NYSE:BDC) Price Target Raised to $130.00 at Benchmark

Belden (NYSE:BDC) had its target price upped by Benchmark from $120.00 to $130.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on BDC. Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Stock Performance

Shares of BDC stock opened at $116.17 on Friday. The stock has a market cap of $4.74 billion, a PE ratio of 27.02 and a beta of 1.07. The stock has a 50-day moving average of $112.21 and a 200-day moving average of $100.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.25. Belden has a one year low of $63.00 and a one year high of $123.03.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts expect that Belden will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s dividend payout ratio (DPR) is currently 4.65%.

Insider Buying and Selling at Belden

In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated 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 in the company, valued at $3,298,001.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Michigan Retirement System boosted its stake 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 valued at $944,000 after purchasing an additional 200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Belden by 11.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company’s stock worth $9,787,000 after purchasing an additional 11,010 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Belden by 9.4% in the 1st quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock valued at $2,713,000 after buying an additional 2,507 shares during the last quarter. 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 buying an additional 298 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in Belden by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock worth $3,378,000 after acquiring an additional 472 shares during the last quarter. Institutional investors 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.