Benchmark Boosts Belden (NYSE:BDC) Price Target to $130.00

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

A number of other analysts also recently commented on BDC. Vertical Research initiated coverage on Belden in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 target price on the stock. Truist Financial upped their price objective on Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $116.40.

Belden Stock Up 1.2 %

NYSE BDC traded up $1.37 during trading on Friday, reaching $115.24. 353,767 shares of the company's stock traded hands, compared to its average volume of 272,461. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 24.67 and a beta of 1.07. Belden has a 12-month low of $60.54 and a 12-month high of $123.03. The company's 50 day simple moving average is $112.04 and its two-hundred day simple moving average is $99.75.

Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS 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 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 company posted $1.78 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Belden will post 6.04 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a $0.05 dividend. 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 payout ratio is 4.26%.

Insider Buying and Selling at Belden

In other news, SVP Brian Edward Anderson sold 1,262 shares of the 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 transaction, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares in the company, 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. Over the last three months, insiders have sold 10,318 shares of company stock valued at $1,020,715. Company insiders own 1.59% of the company's stock.

Institutional Investors Weigh In On Belden

A number of hedge funds have recently modified their holdings of the business. Foster & Motley Inc. increased its holdings in shares of Belden by 25.3% in the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company's stock valued at $4,530,000 after purchasing an additional 7,819 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Belden by 126.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company's stock valued at $3,924,000 after buying an additional 18,678 shares in the last quarter. F M Investments LLC increased its stake in shares of Belden by 2.3% in the 3rd quarter. F M Investments LLC now owns 138,033 shares of the industrial products company's stock worth $16,168,000 after acquiring an additional 3,070 shares during the last quarter. US Bancorp DE raised its holdings in shares of Belden by 7.4% during the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company's stock worth $327,000 after acquiring an additional 193 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Belden by 0.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company's stock valued at $4,068,000 after acquiring an additional 215 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.