Belden (NYSE:BDC) Price Target Raised to $76.00

Belden (NYSE:BDCGet Rating) had its price target boosted by The Goldman Sachs Group from $67.00 to $76.00 in a report issued on Thursday, Marketbeat reports. The Goldman Sachs Group currently has a neutral rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on BDC. StockNews.com assumed coverage on shares of Belden in a research note on Wednesday, October 12th. They issued a strong-buy rating on the stock. Truist Financial lifted their price target on shares of Belden from $77.00 to $82.00 in a research note on Thursday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $82.00.

Belden Price Performance

Shares of NYSE BDC opened at $74.76 on Thursday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 23.22 and a beta of 1.32. Belden has a 12 month low of $47.89 and a 12 month high of $75.05. The firm’s 50 day simple moving average is $64.72 and its 200-day simple moving average is $60.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.54 and a quick ratio of 1.72.

Belden (NYSE:BDCGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.20. The business had revenue of $670.49 million for the quarter, compared to analysts’ expectations of $634.29 million. Belden had a net margin of 5.53% and a return on equity of 26.35%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS. Analysts expect that Belden will post 6.32 EPS for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Thursday, September 15th were issued a $0.05 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Belden’s payout ratio is currently 6.21%.

Insider Buying and Selling at Belden

In other Belden news, Director Jonathan C. Klein sold 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $66.90, for a total value of $66,900.00. Following the transaction, the director now owns 15,053 shares in the company, valued at approximately $1,007,045.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Inspire Investing LLC purchased a new position in shares of Belden during the 1st quarter worth $236,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Belden by 7.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,462,493 shares of the industrial products company’s stock worth $77,906,000 after acquiring an additional 102,396 shares during the period. Bailard Inc. purchased a new position in shares of Belden during the 2nd quarter worth $234,000. Knowledge Leaders Capital LLC raised its holdings in shares of Belden by 11.7% during the 1st quarter. Knowledge Leaders Capital LLC now owns 13,567 shares of the industrial products company’s stock worth $752,000 after acquiring an additional 1,423 shares during the period. Finally, Measured Wealth Private Client Group LLC raised its holdings in shares of Belden by 3.5% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 5,882 shares of the industrial products company’s stock worth $313,000 after acquiring an additional 199 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

About Belden

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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