Belden Inc. (NYSE:BDC) Receives Average Recommendation of “Moderate Buy” from Analysts

Belden Inc. (NYSE:BDC) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $111.67.

A number of equities analysts have issued reports on the company. Loop Capital increased their price target on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Truist Financial raised their price objective on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Benchmark boosted their target price on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research began coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Finally, StockNews.com raised Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th.

Belden Stock Performance

Shares of BDC stock opened at $107.28 on Monday. Belden has a 12-month low of $60.54 and a 12-month high of $108.64. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 20.99 and a beta of 1.06. The business has a 50 day simple moving average of $96.70 and a 200 day simple moving average of $92.12.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 earnings per share. On average, equities research analysts anticipate that Belden will post 6.04 EPS for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s payout ratio is 3.91%.

Insider Buying and Selling at Belden

In other news, Director Jonathan C. Klein sold 1,607 shares of Belden stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the transaction, the director now owns 12,097 shares in the company, valued at $1,176,917.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan C. Klein sold 1,607 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the sale, the director now owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The disclosure for this sale can be found here. Insiders have sold a total of 12,744 shares of company stock valued at $1,251,802 in the last three months. 1.59% of the stock is currently owned by company insiders.

Institutional Trading of Belden

Large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter worth about $28,000. Whittier Trust Co. grew its stake in Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares during the last quarter. Rise Advisors LLC bought a new position in Belden in the 1st quarter worth $32,000. Quadrant Capital Group LLC lifted its position in Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Belden during the fourth quarter valued at about $72,000. 98.75% of the stock is owned by 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.