Analysts Set Belden Inc. (NYSE:BDC) Target Price at $108.80

Shares of Belden Inc. (NYSE:BDC) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $108.80.

A number of research firms have commented on BDC. Truist Financial boosted their price objective on Belden from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Loop Capital boosted their target price on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Benchmark restated a “buy” rating and set a $100.00 target price on shares of Belden in a research report on Monday, May 6th.

Belden Price Performance

Shares of BDC stock opened at $91.84 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 17.97 and a beta of 1.05. The stock’s fifty day simple moving average is $94.50 and its 200 day simple moving average is $87.15. Belden has a one year low of $60.54 and a one year high of $99.07.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The company had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, analysts expect that Belden will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

Insider Activity at Belden

In related news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total value of $156,345.03. Following the completion of the sale, the director now owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Belden

Large investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in shares of Belden in the second quarter worth about $28,000. Rise Advisors LLC bought a new stake in shares of Belden in the first quarter worth about $32,000. Whittier Trust Co. increased its holdings in shares of Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Belden by 41.7% in the fourth 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 in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Belden in the fourth quarter worth about $72,000. 98.75% of the stock is currently 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.