Belden (NYSE:BDC) Earns Buy Rating from Analysts at Vertical Research

Vertical Research began coverage on shares of Belden (NYSE:BDC) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $110.00 price objective on the industrial products company’s stock.

BDC has been the subject of a number of other reports. Benchmark reiterated a buy rating and issued a $100.00 target price on shares of Belden in a report on Monday, May 6th. StockNews.com upgraded Belden from a hold rating to a buy rating in a report on Monday, June 17th. Truist Financial lifted their target price on Belden from $119.00 to $123.00 and gave the company a buy rating in a report on Friday, July 5th. Finally, Loop Capital lifted their target price on Belden from $100.00 to $115.00 and gave the company a buy rating in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Belden presently has a consensus rating of Moderate Buy and an average target price of $109.00.

Belden Trading Up 0.1 %

BDC opened at $92.55 on Tuesday. Belden has a 52 week low of $60.54 and a 52 week high of $99.07. The business has a fifty day simple moving average of $94.54 and a 200-day simple moving average of $87.60. The firm has a market cap of $3.76 billion, a P/E ratio of 18.11 and a beta of 1.05. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.

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

Belden Dividend Announcement

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

Insider Buying and Selling at Belden

In other news, Director Jonathan C. Klein sold 1,093 shares of Belden stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the sale, the director now owns 13,704 shares in the company, valued at $1,308,732. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction dated 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 in the company, valued at $1,919,289.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the transaction, the director now directly owns 13,704 shares in the company, valued at approximately $1,308,732. The disclosure for this sale can be found here. Insiders have sold a total of 10,219 shares of company stock worth $986,641 over the last ninety days. Corporate insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System grew its holdings in shares of Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after buying an additional 200 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares in the last quarter. Blue Trust Inc. boosted its holdings in Belden by 31.9% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 261 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after purchasing an additional 290 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Belden by 33.9% in the 1st quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.