Belden (NYSE:BDC) Sets New 52-Week High - Here's Why

Belden Inc. (NYSE:BDC - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $118.36 and last traded at $118.36, with a volume of 15986 shares changing hands. The stock had previously closed at $117.46.

Analyst Ratings Changes

BDC has been the subject of a number of research analyst reports. StockNews.com raised shares of Belden from a "hold" rating to a "buy" rating in a research report on Monday, June 17th. Truist Financial raised their price objective on Belden from $123.00 to $124.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Benchmark boosted their price objective on Belden from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Finally, Vertical Research initiated coverage on Belden in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $112.00.

Belden Stock Down 0.0 %

The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $104.24 and a two-hundred day simple moving average of $96.11. The stock has a market capitalization of $4.78 billion, a P/E ratio of 23.01 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm's quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 EPS. Equities research analysts forecast that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden's payout ratio is 3.91%.

Insider Transactions at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of the business's stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares of the company's stock, valued at approximately $1,919,289.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Belden 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 directly owns 6,954 shares in the company, valued at approximately $667,444.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Lieser sold 819 shares of Belden stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares of the company's stock, valued at approximately $1,919,289.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,137 shares of company stock worth $1,095,457. Insiders own 1.59% of the company's stock.

Hedge Funds Weigh In On Belden

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Belden by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company's stock valued at $128,148,000 after purchasing an additional 30,268 shares during the period. Wellington Management Group LLP grew its position in shares of Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company's stock worth $76,113,000 after buying an additional 149,263 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Belden by 13.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company's stock valued at $47,245,000 after acquiring an additional 72,775 shares during the last quarter. Southernsun Asset Management LLC raised its position in shares of Belden by 15.3% in the 4th quarter. Southernsun Asset Management LLC now owns 534,618 shares of the industrial products company's stock valued at $41,299,000 after acquiring an additional 71,118 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock worth $29,365,000 after acquiring an additional 42,600 shares during the last quarter. 98.75% of the stock is 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.