Belden (NYSE:BDC) Receives New Coverage from Analysts at Vertical Research

Vertical Research started coverage on shares of Belden (NYSE:BDC) in a research note released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $110.00 price target on the industrial products company’s stock.

BDC has been the topic of a number of other research reports. Loop Capital boosted their price objective 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. Truist Financial boosted their price objective on shares of Belden from $119.00 to $123.00 and gave the company a buy rating in a research report on Friday, July 5th. Benchmark reiterated a buy rating and set a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. Finally, StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Belden presently has an average rating of Moderate Buy and a consensus target price of $109.00.

Belden Trading Down 0.7 %

Shares of BDC opened at $91.94 on Tuesday. 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 has a fifty-two week low of $60.54 and a fifty-two week high of $99.07. The stock has a market capitalization of $3.74 billion, a PE ratio of 17.99 and a beta of 1.05. The company’s fifty day moving average is $94.51 and its 200 day moving average is $87.72.

Belden (NYSE:BDC) last posted its quarterly earnings data 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. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same quarter in the previous year, the business posted $1.68 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Sell-side analysts expect that Belden will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Thursday, June 13th. Belden’s payout ratio is presently 3.91%.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the transaction, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Belden news, Director David J. Aldrich sold 6,700 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the transaction, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at approximately $1,919,289.06. The disclosure for this sale can be found here. Insiders have sold a total of 10,219 shares of company stock worth $986,641 in the last three months. Corporate insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of institutional investors have recently modified their holdings of BDC. Norges Bank bought a new stake in shares of Belden in the 4th quarter valued at about $35,403,000. Pzena Investment Management LLC boosted its holdings in shares of Belden by 32.5% in the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock valued at $70,678,000 after buying an additional 224,486 shares in the last quarter. Channing Capital Management LLC boosted its holdings in shares of Belden by 29.4% in the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after buying an additional 209,052 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Belden by 17.9% in the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after buying an additional 149,263 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Belden by 1,724.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after buying an additional 98,503 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

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.