Brokerages Set Belden Inc. (NYSE:BDC) Target Price at $111.67

Belden Inc. (NYSE:BDC) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $111.67.

BDC has been the subject of a number of recent analyst reports. Benchmark upped their target price on Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Loop Capital upped 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. Finally, Truist Financial lifted their price objective on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Belden Stock Performance

Shares of BDC stock opened at $102.48 on Monday. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 20.05 and a beta of 1.06. Belden has a 1-year low of $60.54 and a 1-year high of $108.64. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $97.30 and its 200-day simple moving average is $92.48.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter in the prior year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Belden will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.20%. Belden’s payout ratio is 3.91%.

Insider Activity at Belden

In related news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at $3,298,001.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,744 shares of company stock worth $1,251,802. Company insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Belden by 2.2% in the 1st 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 during the period. Wellington Management Group LLP raised its stake in Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after acquiring an additional 149,263 shares in the last quarter. Channing Capital Management LLC lifted its holdings in shares of Belden by 29.4% during 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 acquiring an additional 209,052 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Belden by 32.5% in the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock valued at $70,678,000 after purchasing an additional 224,486 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Belden by 13.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock worth $47,245,000 after purchasing an additional 72,775 shares during the last quarter. Institutional investors and hedge funds 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.