Belden (NYSE:BDC) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Belden (NYSE:BDCGet Rating) in a research report report published on Tuesday morning, The Fly reports. The firm issued a hold rating and a $86.00 target price on the industrial products company’s stock.

Several other analysts have also issued reports on BDC. Truist Financial boosted their price target on shares of Belden from $77.00 to $82.00 in a research report on Thursday, November 3rd. StockNews.com began coverage on shares of Belden in a research report on Wednesday, October 12th. They issued a strong-buy rating on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Belden from $67.00 to $76.00 and gave the company a neutral rating in a research report on Thursday, November 3rd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Belden has an average rating of Moderate Buy and an average target price of $83.00.

Belden Stock Down 0.8 %

BDC opened at $79.70 on Tuesday. The company has a quick ratio of 1.89, a current ratio of 2.54 and a debt-to-equity ratio of 0.92. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 24.75 and a beta of 1.32. Belden has a twelve month low of $47.89 and a twelve month high of $82.83. The company’s 50-day moving average price is $68.06 and its two-hundred day moving average price is $62.77.

Belden (NYSE:BDCGet Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.20. The firm 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 company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, equities analysts expect that Belden will post 6.33 earnings per share for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Thursday, September 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Wednesday, September 14th. Belden’s dividend payout ratio (DPR) is presently 6.21%.

Institutional Trading of Belden

A number of hedge funds and other institutional investors have recently bought and sold shares of BDC. State of New Jersey Common Pension Fund D increased its holdings in Belden by 12.2% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 46,982 shares of the industrial products company’s stock worth $2,603,000 after acquiring an additional 5,112 shares during the period. Victory Capital Management Inc. increased its holdings in Belden by 11.4% during the 1st quarter. Victory Capital Management Inc. now owns 2,288,395 shares of the industrial products company’s stock worth $126,636,000 after acquiring an additional 233,574 shares during the period. New York State Common Retirement Fund increased its holdings in Belden by 1.6% during the 1st quarter. New York State Common Retirement Fund now owns 64,612 shares of the industrial products company’s stock worth $3,580,000 after acquiring an additional 1,025 shares during the period. Royce & Associates LP increased its holdings in Belden by 9.0% during the 1st quarter. Royce & Associates LP now owns 51,217 shares of the industrial products company’s stock worth $2,837,000 after acquiring an additional 4,240 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in Belden by 10.9% during the 1st quarter. Pzena Investment Management LLC now owns 1,867,145 shares of the industrial products company’s stock worth $103,440,000 after acquiring an additional 183,829 shares during the period. Institutional investors own 99.88% of the company’s stock.

Belden Company Profile

(Get Rating)

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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