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

Shares of Belden Inc. (NYSE:BDC) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $111.67.

Several equities analysts recently issued reports on the company. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Loop Capital raised their price target on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. Benchmark raised their price target on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Vertical Research assumed coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Truist Financial raised their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

Insider Buying and Selling at Belden

In other Belden news, Director Jonathan C. Klein sold 1,607 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the transaction, the director now owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan C. Klein sold 1,607 shares of the firm’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 owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the sale, the director now directly owns 13,704 shares in the company, valued at approximately $1,308,732. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,719 shares of company stock valued at $1,226,591. 1.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Belden

A number of hedge funds have recently modified their holdings of BDC. Norges Bank acquired a new stake in shares of Belden during the fourth quarter worth about $35,403,000. Pzena Investment Management LLC raised its position in shares of Belden by 32.5% during the fourth quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after purchasing an additional 224,486 shares during the period. Channing Capital Management LLC raised its position in shares of Belden by 29.4% during the fourth quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after purchasing an additional 209,052 shares during the period. Wellington Management Group LLP raised its position in shares of Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the period. Finally, F M Investments LLC acquired a new stake in Belden in the 2nd quarter valued at approximately $12,659,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Price Performance

Shares of BDC stock opened at $94.68 on Thursday. The stock’s fifty day moving average is $94.27 and its 200-day moving average is $89.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.83 and a current ratio of 1.70. The stock has a market capitalization of $3.85 billion, a PE ratio of 18.53 and a beta of 1.06. Belden has a 52 week low of $60.54 and a 52 week high of $102.47.

Belden (NYSE:BDC) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 earnings per share. Equities research analysts expect that Belden will post 5.85 EPS for the current fiscal year.

Belden Dividend Announcement

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

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.