Belden (NYSE:BDC) PT Raised to $101.00

Belden (NYSE:BDC) had its target price upped by Truist Financial from $98.00 to $101.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Separately, StockNews.com raised Belden from a hold rating to a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $103.00.

Belden Stock Down 0.8 %

Shares of NYSE:BDC traded down $0.68 during trading on Friday, hitting $88.23. 278,817 shares of the company’s stock traded hands, compared to its average volume of 234,599. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average price of $87.12 and a 200-day moving average price of $78.22. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 17.26 and a beta of 1.07.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share 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 company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. During the same quarter in the prior year, the company earned $1.68 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, research analysts forecast that Belden will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.23%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Transactions at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its position in Belden by 3.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock worth $415,000 after buying an additional 158 shares in the last quarter. Arizona State Retirement System increased its holdings in Belden by 1.4% in the third quarter. Arizona State Retirement System now owns 12,115 shares of the industrial products company’s stock worth $1,170,000 after purchasing an additional 169 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Belden by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after acquiring an additional 200 shares during the period. Parkside Financial Bank & Trust increased its holdings in Belden by 15.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 209 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Belden by 41.7% in the 4th 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. 98.75% of the stock is 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.