Belden (NYSE:BDC) Given “Buy” Rating at Benchmark

Benchmark reissued their buy rating on shares of Belden (NYSE:BDC) in a report released on Friday,Benzinga reports. The firm currently has a $130.00 price objective on the industrial products company’s stock.

A number of other research analysts have also weighed in on BDC. Truist Financial lifted their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 16th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $122.75.

Belden Stock Down 0.1 %

BDC stock opened at $121.02 on Friday. The stock has a fifty day moving average of $118.42 and a 200-day moving average of $111.43. Belden has a fifty-two week low of $72.91 and a fifty-two week high of $131.82. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 28.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same period in the prior year, the company posted $1.78 EPS. Belden’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Belden will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, December 12th. Belden’s dividend payout ratio is currently 4.65%.

Insiders Place Their Bets

In related news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Belden

Several hedge funds have recently made changes to their positions in BDC. FMR LLC increased its position in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the period. Foundry Partners LLC bought a new stake in shares of Belden during the 3rd quarter valued at about $11,814,000. State Street Corp increased its position in shares of Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after buying an additional 100,145 shares during the period. International Assets Investment Management LLC bought a new position in Belden in the third quarter worth about $82,320,000. Finally, Lord Abbett & CO. LLC lifted its holdings in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after buying an additional 68,151 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.