Belden (NYSE:BDC) PT Raised to $101.00

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

Separately, StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $102.40.

Belden Price Performance

Shares of NYSE:BDC opened at $87.71 on Friday. Belden has a one year low of $60.54 and a one year high of $99.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 17.16 and a beta of 1.07. The firm has a 50 day simple moving average of $87.12 and a 200 day simple moving average of $78.25.

Belden (NYSE:BDC) last released its quarterly earnings data 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 return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same quarter last year, the business posted $1.68 EPS. Belden’s revenue for the quarter was down 16.5% on a year-over-year basis. Research analysts predict that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio is currently 3.91%.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.59% of the stock is owned by company insiders.

Institutional Trading of Belden

Several hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp grew its holdings in Belden by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock worth $3,378,000 after purchasing an additional 472 shares during the period. Whittier Trust Co. boosted its position in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 298 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Belden by 9.4% in the 1st quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock valued at $2,713,000 after buying an additional 2,507 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Belden by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company’s stock valued at $9,787,000 after buying an additional 11,010 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Belden by 15.7% during the 1st quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company’s stock worth $22,631,000 after buying an additional 33,160 shares during the period. Institutional investors own 98.75% of the company’s stock.

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.