Belden Inc. (NYSE:BDC - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $109.38 and traded as high as $117.47. Belden shares last traded at $114.37, with a volume of 244,815 shares trading hands.
Analyst Ratings Changes
Several equities analysts have weighed in on BDC shares. Truist Financial lifted their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $122.75.
Get Our Latest Research Report on BDC
Belden Price Performance
The company has a 50 day moving average price of $119.36 and a 200 day moving average price of $109.38. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.68 billion, a P/E ratio of 26.97 and a beta of 1.09.
Belden (NYSE:BDC - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.
Belden Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a $0.05 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden's payout ratio is 4.65%.
Insider Activity
In other news, CAO Doug Zink sold 1,324 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total value of $155,556.76. Following the sale, the chief accounting officer now directly owns 9,643 shares of the company's stock, valued at approximately $1,132,956.07. This represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.59% of the stock is currently owned by corporate insiders.
Institutional Trading of Belden
Several hedge funds and other institutional investors have recently bought and sold shares of BDC. Ashton Thomas Private Wealth LLC bought a new position in shares of Belden during the second quarter valued at $201,000. Texas Permanent School Fund Corp raised its stake in shares of Belden by 18.2% in the second quarter. Texas Permanent School Fund Corp now owns 43,123 shares of the industrial products company's stock worth $4,045,000 after buying an additional 6,643 shares during the period. Chesapeake Capital Corp IL purchased a new position in shares of Belden during the 2nd quarter valued at $454,000. AdvisorShares Investments LLC bought a new position in shares of Belden in the second quarter worth about $503,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in Belden during the 2nd quarter valued at approximately $254,000. Institutional investors own 98.75% of the company's stock.
Belden Company Profile
(
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.
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