Belden (NYSE:BDC) Price Target Raised to $130.00

Belden (NYSE:BDC) had its price target raised by analysts at Benchmark from $120.00 to $130.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Benchmark’s price objective would suggest a potential upside of 11.31% from the company’s current price.

BDC has been the subject of a number of other reports. Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Truist Financial increased their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden has a consensus rating of “Buy” and a consensus target price of $116.40.

Belden Stock Performance

Shares of NYSE BDC traded up $2.92 during trading hours on Friday, reaching $116.79. The stock had a trading volume of 68,085 shares, compared to its average volume of 271,113. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 24.67 and a beta of 1.07. Belden has a twelve month low of $60.54 and a twelve month high of $123.03. The business’s fifty day moving average is $112.04 and its two-hundred day moving average is $99.75. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.10. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the prior year, the company posted $1.78 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts expect that Belden will post 6.04 EPS for the current year.

Insider Buying and Selling at Belden

In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction on 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 owns 6,954 shares in the company, valued at approximately $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Nancy E. Calderon sold 2,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now owns 6,954 shares in the company, valued at $667,444.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the sale, the senior vice president now owns 39,385 shares of the company’s stock, valued at $3,812,074.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after acquiring an additional 8,169 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Belden by 8.0% in the 1st quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock valued at $9,195,000 after purchasing an additional 7,340 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of 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 worth $9,651,000 after buying an additional 98,503 shares during the period. AdvisorShares Investments LLC bought a new stake in shares of Belden during the second quarter worth approximately $503,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Belden by 3.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock valued at $2,816,000 after buying an additional 980 shares during the period. 98.75% of the stock is currently owned by institutional investors.

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.