Belden Inc. (NYSE:BDC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Belden Inc. (NYSE:BDC) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.80.

A number of research firms recently commented on BDC. Loop Capital lifted their price objective on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Benchmark reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Belden in a research note on Monday, May 6th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial lifted their price objective on Belden from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, July 5th.

Belden Stock Performance

Shares of BDC stock opened at $91.84 on Friday. The business’s 50-day moving average price is $94.50 and its 200-day moving average price is $87.15. Belden has a 12 month low of $60.54 and a 12 month high of $99.07. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 17.97 and a beta of 1.05. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. Equities research analysts forecast that Belden will post 5.85 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. Belden’s payout ratio is currently 3.91%.

Insiders Place Their Bets

In other Belden news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value 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. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Belden

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Belden by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after acquiring an additional 92,544 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Belden by 2.2% during the first 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 buying an additional 30,268 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after buying an additional 149,263 shares during the last quarter. Channing Capital Management LLC boosted its position in shares of Belden by 29.4% during the fourth quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after buying an additional 209,052 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in shares of Belden by 32.5% during the fourth quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock valued at $70,678,000 after buying an additional 224,486 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

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.