Benchmark Boosts Belden (NYSE:BDC) Price Target to $120.00

Belden (NYSE:BDC) had its price objective lifted by Benchmark from $115.00 to $120.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research analysts also recently commented on the stock. Truist Financial lifted their price target on shares of Belden from $123.00 to $124.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a buy rating and a $110.00 target price on the stock. Finally, StockNews.com raised shares of Belden from a hold rating to a buy rating in a research note on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Belden has an average rating of Moderate Buy and an average target price of $112.50.

Belden Trading Up 2.1 %

BDC stock opened at $112.43 on Wednesday. The company has a market capitalization of $4.57 billion, a PE ratio of 22.00 and a beta of 1.07. Belden has a one year low of $60.54 and a one year high of $112.87. The company’s 50 day moving average price is $99.95 and its two-hundred day moving average price is $94.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70.

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

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date is Thursday, September 12th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Insider Activity at Belden

In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at $667,444.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at $667,444.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Lieser sold 819 shares of Belden stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the sale, the executive vice president now 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 11,137 shares of company stock worth $1,095,457 over the last quarter. Corporate insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

Hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter valued at $28,000. Whittier Trust Co. boosted 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 worth $32,000 after purchasing an additional 298 shares in the last quarter. Rise Advisors LLC bought a new position in Belden in the 1st quarter worth about $32,000. Quadrant Capital Group LLC boosted its stake in Belden by 41.7% in the 4th 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. Finally, Principal Securities Inc. bought a new position in Belden in the 4th quarter worth about $72,000. Institutional investors own 98.75% of the company’s stock.

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.