Belden Inc. (NYSE:BDC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Belden Inc. (NYSE:BDC) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $104.40.

BDC has been the subject of several recent research reports. Loop Capital boosted their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Truist Financial lifted their price target on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Benchmark restated a “buy” rating and set a $100.00 price objective on shares of Belden in a research note on Monday, May 6th.

Belden Stock Up 1.2 %

Shares of NYSE BDC opened at $97.63 on Friday. Belden has a 52-week low of $60.54 and a 52-week high of $99.13. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.11 and a beta of 1.07. The stock has a 50 day moving average price of $89.13 and a 200 day moving average price of $80.64. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55.

Belden (NYSE:BDC) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. Sell-side analysts expect that Belden will post 5.77 earnings per share for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s dividend payout ratio is presently 3.91%.

Institutional Trading of Belden

Several large investors have recently bought and sold shares of BDC. FMR LLC grew its position in Belden by 1,365.5% during the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after purchasing an additional 956,136 shares during the last quarter. Norges Bank purchased a new stake in Belden during the 4th quarter worth approximately $35,403,000. Pzena Investment Management LLC grew its position in Belden by 32.5% during the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after purchasing an additional 224,486 shares during the last quarter. Channing Capital Management LLC grew its position in Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after purchasing an additional 209,052 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the last quarter. Hedge funds and other institutional investors 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.