Belden Inc. (NYSE:BDC) Given Average Recommendation of “Moderate Buy” by Brokerages

Belden Inc. (NYSE:BDC) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.00.

Several equities analysts have commented on BDC shares. Truist Financial reiterated a “buy” rating and issued a $119.00 price target (up from $101.00) on shares of Belden in a research note on Friday, June 14th. Loop Capital increased their target price on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of Belden in a report on Monday, May 6th.

Belden Stock Performance

Shares of BDC opened at $96.11 on Wednesday. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The stock has a 50-day simple moving average of $90.72 and a 200-day simple moving average of $84.03. The stock has a market capitalization of $3.91 billion, a PE ratio of 18.81 and a beta of 1.09. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. Belden’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. On average, analysts predict that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Buying and Selling at Belden

In other Belden news, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the transaction, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jonathan C. Klein sold 1,093 shares of Belden stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the sale, the director now directly owns 13,704 shares in the company, valued at $1,308,732. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the transaction, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $911,900 in the last ninety days. Insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System increased its holdings in Belden by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after buying an additional 200 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Belden by 15.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 209 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 244 shares in the last quarter. Blue Trust Inc. grew its holdings in Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 261 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Belden by 3.1% in the first quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after buying an additional 290 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

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.