Analysts Set Belden Inc. (NYSE:BDC) Target Price at $102.25

Belden Inc. (NYSE:BDC) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $103.00.

A number of research firms have commented on BDC. Truist Financial lifted their price objective on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.59% of the stock is owned by insiders.

Institutional Trading of Belden

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after purchasing an additional 92,544 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Belden by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock valued at $128,148,000 after purchasing an additional 30,268 shares in the last quarter. FMR LLC lifted its holdings in shares of Belden by 1,365.5% in the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock valued at $99,075,000 after purchasing an additional 956,136 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after purchasing an additional 149,263 shares in the last quarter. Finally, Channing Capital Management LLC lifted its holdings in shares of Belden by 29.4% in the fourth quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after purchasing an additional 209,052 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Trading Down 0.8 %

NYSE BDC opened at $88.23 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.72. The firm’s fifty day moving average price is $87.12 and its 200 day moving average price is $78.22. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. Belden has a 12 month low of $60.54 and a 12 month high of $99.13.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. On average, sell-side analysts expect that Belden will post 5.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s dividend payout ratio is currently 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.