Loop Capital Raises Belden (NYSE:BDC) Price Target to $115.00

Belden (NYSE:BDC) had its price objective increased by Loop Capital from $100.00 to $115.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

BDC has been the topic of a number of other reports. Benchmark reiterated a buy rating and set a $100.00 price objective on shares of Belden in a research note on Monday, May 6th. StockNews.com downgraded shares of Belden from a buy rating to a hold rating in a research note on Friday, May 10th. Finally, Truist Financial raised their price target on shares of Belden from $98.00 to $101.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Belden presently has a consensus rating of Moderate Buy and a consensus target price of $104.40.

Belden Price Performance

Shares of BDC stock opened at $93.50 on Friday. The company has a market capitalization of $3.80 billion, a PE ratio of 18.30 and a beta of 1.07. The firm has a fifty day simple moving average of $88.20 and a 200-day simple moving average of $79.75. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden has a twelve month low of $60.54 and a twelve month high of $99.13.

Belden (NYSE:BDC) last posted its quarterly earnings data 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. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the firm posted $1.68 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. Equities research analysts anticipate that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. Belden’s payout ratio is currently 3.91%.

Insider Buying and Selling

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

Institutional Trading of Belden

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of Belden by 198.4% in the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after acquiring an additional 8,169 shares during the period. Janus Henderson Group PLC increased its stake in Belden by 20.4% during the 1st quarter. Janus Henderson Group PLC now owns 24,110 shares of the industrial products company’s stock valued at $2,231,000 after buying an additional 4,093 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after buying an additional 98,503 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Belden by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 133,469 shares of the industrial products company’s stock valued at $12,361,000 after buying an additional 930 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Belden during the 1st quarter valued at about $256,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.