Belden Inc. (NYSE:BDC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Belden Inc. (NYSE:BDC) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $112.00.

Several brokerages have weighed in on BDC. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Benchmark increased their price target on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Truist Financial increased their price target on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock.

Belden Trading Up 0.3 %

Shares of BDC opened at $115.80 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average is $103.27 and its two-hundred day moving average is $95.67. Belden has a twelve month low of $60.54 and a twelve month high of $118.26. The firm has a market capitalization of $4.71 billion, a P/E ratio of 22.66 and a beta of 1.07.

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

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, September 12th. Belden’s payout ratio is 3.91%.

Insider Activity at Belden

In related news, Director Nancy E. Calderon sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Belden news, 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 transaction of $122,148.98. Following the transaction, the senior vice president now 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 SEC, which is accessible through the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,137 shares of company stock valued at $1,095,457. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Belden by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock worth $128,148,000 after acquiring an additional 30,268 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after acquiring an additional 149,263 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Belden by 13.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock worth $47,245,000 after acquiring an additional 72,775 shares in the last quarter. Southernsun Asset Management LLC grew its holdings in Belden by 15.3% during the 4th quarter. Southernsun Asset Management LLC now owns 534,618 shares of the industrial products company’s stock valued at $41,299,000 after purchasing an additional 71,118 shares in the last quarter. Finally, Norges Bank acquired a new stake in Belden during the 4th quarter valued at $35,403,000. Institutional investors and hedge funds 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.