Belden Inc. (NYSE:BDC) Receives $112.00 Consensus Target Price from Brokerages

Belden Inc. (NYSE:BDC) has received a consensus recommendation of “Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $112.00.

Several brokerages have recently issued reports on BDC. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial boosted their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Benchmark raised their price objective on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

Insiders Place Their Bets

In other news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at $3,298,001.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock worth $1,020,715 over the last quarter. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Belden

Hedge funds and other institutional investors have recently modified their holdings of the stock. Matrix Trust Co bought a new position in Belden during the third quarter worth $25,000. GAMMA Investing LLC boosted its holdings in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after buying an additional 117 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter valued at about $28,000. Whittier Trust Co. raised its stake in Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares during the period. Finally, Innealta Capital LLC bought a new position in Belden in the second quarter worth about $95,000. Institutional investors own 98.75% of the company’s stock.

Belden Price Performance

Shares of NYSE:BDC opened at $117.62 on Tuesday. The company has a market cap of $4.78 billion, a P/E ratio of 23.02 and a beta of 1.07. The business has a fifty day simple moving average of $110.71 and a 200-day simple moving average of $98.72. Belden has a 52 week low of $60.54 and a 52 week high of $123.03. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping 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 business had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. During the same period in the prior year, the firm posted $1.91 EPS. The company’s revenue was down 12.7% on a year-over-year basis. Equities research analysts forecast that Belden will post 6.04 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. 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.