Benchmark Issues Positive Forecast for Belden (NYSE:BDC) Stock Price

by · The Cerbat Gem

Belden (NYSE:BDC – Free Report) had its target price boosted by Benchmark from $120.00 to $130.00 in a report released on Friday, Benzinga reports. Benchmark currently has a buy rating on the industrial products company’s stock.

Several other research firms have also recently commented on BDC. Vertical Research began coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $116.40.

Read Our Latest Report on BDC

Belden Trading Up 1.2 %

BDC traded up $1.37 during mid-day trading on Friday, hitting $115.24. 353,767 shares of the stock were exchanged, compared to its average volume of 272,461. The company has a market cap of $4.70 billion, a PE ratio of 24.52 and a beta of 1.07. Belden has a 1-year low of $60.54 and a 1-year high of $123.03. 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 firm’s fifty day moving average is $112.21 and its two-hundred day moving average is $99.96.

Belden (NYSE:BDC – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.10. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the prior year, the company earned $1.78 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Belden will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio is presently 4.26%.

Insider Buying and Selling at Belden

In related news, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction on 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 in the company, valued at $3,812,074.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly owns 39,385 shares of the company’s stock, valued at $3,812,074.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $239,950.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Belden

A number of hedge funds have recently added to or reduced their stakes in BDC. State of Michigan Retirement System grew its holdings in Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Belden by 11.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company’s stock valued at $9,787,000 after purchasing an additional 11,010 shares during the period. BNP Paribas Financial Markets grew its position in Belden by 9.4% during the first quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock worth $2,713,000 after buying an additional 2,507 shares during the period. Whittier Trust Co. increased its holdings in Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Belden by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock worth $3,378,000 after acquiring an additional 472 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Belden

(Get Free Report)

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.

Read More