Belden Inc. (NYSE:BDC) Receives Average Rating of "Buy" from Brokerages

Belden Inc. (NYSE:BDC - Get Free Report) has earned an average recommendation of "Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $112.00.

BDC has been the subject of several analyst reports. Benchmark lifted their price objective on Belden from $115.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Vertical Research assumed coverage on Belden in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price target for the company. Finally, Truist Financial increased their price objective on shares of Belden from $123.00 to $124.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd.

Insider Transactions at Belden

In other news, Director Nancy E. Calderon sold 2,500 shares of the business's 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 transaction, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Brian Edward Anderson sold 6,556 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company's stock, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the business's 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 directly owns 6,954 shares in the company, valued at approximately $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. Insiders sold 10,318 shares of company stock worth $1,020,715 over the last ninety days. 1.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Belden

Institutional investors have recently made changes to their positions in the stock. Matrix Trust Co acquired a new position in shares of Belden during the third quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Belden during the second quarter worth $28,000. Whittier Trust Co. lifted its stake in shares of 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. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock valued at $33,000 after buying an additional 117 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Belden during the second quarter worth about $95,000. Institutional investors and hedge funds own 98.75% of the company's stock.

Belden Stock Performance

Shares of NYSE BDC traded down $1.38 during midday trading on Tuesday, hitting $116.50. 166,808 shares of the company's stock were exchanged, compared to its average volume of 271,052. The firm has a market capitalization of $4.74 billion, a PE ratio of 22.80 and a beta of 1.07. 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 company's 50 day moving average price is $109.62 and its 200 day moving average price is $98.27. Belden has a 12 month low of $60.54 and a 12 month high of $123.03.

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

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date was Thursday, September 12th. Belden's payout ratio is presently 3.91%.

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.