Belden (NYSE:BDC) PT Raised to $101.00

Belden (NYSE:BDC) had its price objective upped by Truist Financial from $98.00 to $101.00 in a research note released on Friday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Separately, StockNews.com upgraded Belden from a hold rating to a buy rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $103.00.

Belden Trading Down 0.8 %

BDC stock opened at $88.23 on Friday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. The company has a fifty day moving average price of $87.12 and a two-hundred day moving average price of $78.23. 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 1.72.

Belden (NYSE:BDC) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS 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 the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. Belden’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 EPS. Equities analysts anticipate that Belden will post 5.77 EPS for the current year.

Belden Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value 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 $1,791,835.60. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new position in Belden in the 1st quarter valued at about $32,000. 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 acquiring an additional 298 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares during the last quarter. Principal Securities Inc. acquired a new position in Belden during the fourth quarter valued at approximately $72,000. Finally, TFO Wealth Partners LLC lifted its stake in Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,005 shares during the last quarter. 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.