Belden (NYSE:BDC – Free Report) had its target price increased by Truist Financial from $89.00 to $98.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.
A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Belden from $106.00 to $91.00 and set a buy rating for the company in a report on Friday, November 3rd. Fox Advisors downgraded shares of Belden from an overweight rating to an equal weight rating in a report on Friday, October 13th. Loop Capital cut their price target on shares of Belden from $110.00 to $105.00 and set a buy rating for the company in a report on Monday, October 16th. Finally, StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Belden currently has a consensus rating of Moderate Buy and an average target price of $103.40.
Check Out Our Latest Stock Analysis on BDC
Belden Trading Down 1.2 %
Shares of Belden stock opened at $83.23 on Friday. The firm has a market capitalization of $3.47 billion, a PE ratio of 14.70 and a beta of 1.02. Belden has a twelve month low of $60.54 and a twelve month high of $99.13. The firm’s 50-day moving average price is $74.90 and its 200 day moving average price is $80.47. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.03.
Belden (NYSE:BDC – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.34. The company had revenue of $551.24 million during the quarter, compared to the consensus estimate of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. Belden’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 EPS. On average, sell-side analysts predict that Belden will post 5.33 EPS for the current fiscal year.
Belden Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Thursday, December 14th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s payout ratio is currently 3.53%.
Insider Buying and Selling
In related news, SVP Leah Tate acquired 1,550 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $64.53 per share, with a total value of $100,021.50. Following the transaction, the senior vice president now owns 3,360 shares of the company’s stock, valued at approximately $216,820.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Belden
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDC. Inspire Investing LLC lifted its position in shares of Belden by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 3,273 shares of the industrial products company’s stock worth $313,000 after purchasing an additional 115 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in shares of Belden by 2.3% during the 4th quarter. Atlas Capital Advisors LLC now owns 5,346 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 121 shares during the last quarter. Howe & Rusling Inc. lifted its position in shares of Belden by 4.3% during the 2nd quarter. Howe & Rusling Inc. now owns 3,090 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 127 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Belden by 14.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,116 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 141 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Belden by 3.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 99.16% of the company’s stock.
About Belden
Belden Inc provides portfolio of signal transmission solutions 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, and home and building automation.
Further Reading
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Source: defenseworld.net
