Belden (NYSE:BDC) Sets New 12-Month High – Still a Buy?

Belden Inc. (NYSE:BDC) reached a new 52-week high during trading on Wednesday . The company traded as high as $128.28 and last traded at $127.82, with a volume of 38938 shares changing hands. The stock had previously closed at $118.50.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research assumed coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $122.75.

Belden Stock Performance

The stock has a market capitalization of $5.10 billion, a PE ratio of 29.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The firm’s 50 day moving average is $113.54 and its two-hundred day moving average is $101.09.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. As a group, research analysts predict that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insider Transactions at Belden

In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares in the company, valued at approximately $3,298,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the sale, the chief accounting officer now owns 9,643 shares in the company, valued at $1,132,956.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,142 shares of company stock valued at $936,322. Insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BDC. GAMMA Investing LLC boosted its holdings in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the period. Verdence Capital Advisors LLC raised its position in Belden by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 148 shares during the last quarter. US Bancorp DE boosted its stake in Belden by 7.4% during the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 193 shares during the period. First Horizon Advisors Inc. grew its position in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares during the last quarter. Finally, Matrix Trust Co acquired a new position in Belden in the third quarter valued at $25,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.