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

Belden Inc. (NYSE:BDC) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $112.00.

BDC has been the topic of a number of recent research reports. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Benchmark increased their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Vertical Research initiated coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Truist Financial increased their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 in the company, valued at approximately $3,812,074.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 in the company, valued at approximately $3,812,074.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. The disclosure for this sale can be found here. Insiders have sold a total of 11,137 shares of company stock worth $1,095,457 in the last 90 days. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Several hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in shares of Belden during the 2nd quarter valued at $409,000. Aristides Capital LLC acquired a new stake in shares of Belden during the 2nd quarter valued at $228,000. Creative Planning boosted its holdings in shares of Belden by 17.5% during the 2nd quarter. Creative Planning now owns 14,236 shares of the industrial products company’s stock valued at $1,335,000 after acquiring an additional 2,117 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Belden by 42.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 16,736 shares of the industrial products company’s stock valued at $1,570,000 after acquiring an additional 5,006 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Belden by 13.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,547 shares of the industrial products company’s stock valued at $989,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

BDC opened at $116.07 on Friday. Belden has a 12-month low of $60.54 and a 12-month high of $118.26. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 22.71 and a beta of 1.07. The business has a 50 day moving average of $102.81 and a 200-day moving average of $95.53. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. During the same period last year, the firm posted $1.91 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. On average, equities research analysts expect that Belden will post 6.04 earnings per share for the current year.

Belden Dividend Announcement

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