Belden Inc. (NYSE:BDC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Belden Inc. (NYSE:BDC) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $108.00.

A number of research firms have recently issued reports on BDC. Truist Financial reaffirmed a “buy” rating and set a $119.00 price objective (up from $101.00) on shares of Belden in a report on Friday, June 14th. Loop Capital lifted their price objective on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Belden in a research note on Monday, May 6th.

Insider Activity

In other news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The sale was disclosed in a legal 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 business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the sale, the director now directly owns 12,097 shares in the company, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,400 shares of company stock valued at $911,900. Corporate insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Michigan Retirement System lifted its stake in shares of Belden by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after buying an additional 200 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Belden by 15.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after buying an additional 209 shares in the last quarter. Quadrant Capital Group LLC lifted its stake 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 buying an additional 244 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Belden by 31.9% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 261 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of 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. Institutional investors own 98.75% of the company’s stock.

Belden Stock Up 1.2 %

Belden stock opened at $95.15 on Wednesday. Belden has a 1-year low of $60.54 and a 1-year high of $99.13. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 18.62 and a beta of 1.09. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $91.36 and a 200 day simple moving average of $84.77.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same period last year, the firm earned $1.68 EPS. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, analysts predict that Belden will post 5.77 earnings per share for the current year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Thursday, June 13th. Belden’s payout ratio is 3.91%.

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.