Belden Inc. (NYSE:BDC) Receives $112.00 Consensus PT from Analysts

Shares of Belden Inc. (NYSE:BDC) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $112.00.

A number of research firms recently commented on BDC. Benchmark upped their price objective on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Truist Financial increased their price target on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target for the company. Finally, StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th.

Insider Transactions at Belden

In other news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at $3,812,074.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the transaction, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at $3,812,074.15. The disclosure for this sale can be found here. Insiders sold 11,137 shares of company stock valued at $1,095,457 over the last three months. Company insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State of Michigan Retirement System boosted its position in Belden by 2.0% during 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 purchasing an additional 200 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in Belden by 16.3% during the second quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 246 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Belden by 3.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 269 shares during the last quarter. ProShare Advisors LLC boosted its position in Belden by 3.1% during the first quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after purchasing an additional 290 shares during the last quarter. Finally, Covestor Ltd boosted its position in Belden by 33.9% during the first quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 295 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Trading Down 0.9 %

NYSE BDC opened at $116.07 on Friday. The stock has a 50-day simple moving average of $102.81 and a 200 day simple moving average of $95.53. The company has a market capitalization of $4.72 billion, a PE ratio of 22.71 and a beta of 1.07. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden has a 12 month low of $60.54 and a 12 month high of $118.26.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. Research analysts forecast 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. Stockholders of record on Thursday, September 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s dividend payout ratio is currently 3.91%.

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.