Belden (NYSE:BDC) Shares Gap Down – Time to Sell?

Belden Inc. (NYSE:BDC) shares gapped down before the market opened on Thursday . The stock had previously closed at $116.29, but opened at $110.82. Belden shares last traded at $110.89, with a volume of 27,911 shares changing hands.

Analyst Ratings Changes

BDC has been the subject of a number of research analyst reports. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Belden in a report on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $122.75.

Belden Stock Performance

The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $117.51 and a two-hundred day moving average of $112.73. The company has a market capitalization of $4.71 billion, a PE ratio of 26.95 and a beta of 1.08.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 7.61% and a return on equity of 20.55%. Research analysts anticipate that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s payout ratio is 4.65%.

Institutional Trading of Belden

Institutional investors and hedge funds have recently made changes to their positions in the business. Matrix Trust Co acquired a new stake in Belden in the 3rd quarter worth about $25,000. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Belden in the third quarter worth about $33,000. First Horizon Advisors Inc. boosted its position in Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 199 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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.