Belden (NYSE:BDC – Free Report) had its price objective upped by Truist Financial from $89.00 to $98.00 in a research report sent to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.
Other analysts have also issued research reports about the stock. Loop Capital lowered their target price 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. StockNews.com raised shares of Belden from a hold rating to a buy rating in a report on Wednesday, December 13th. Fox Advisors lowered shares of Belden from an overweight rating to an equal weight rating in a report on Friday, October 13th. Finally, The Goldman Sachs Group lowered their target price 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $103.40.
Belden Stock Performance
Belden (NYSE:BDC – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.34. The firm had revenue of $551.24 million during the quarter, compared to analyst estimates of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The company’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 earnings per share. Research analysts anticipate that Belden will post 5.33 earnings per share for the current fiscal year.
Belden Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Stockholders of record on Thursday, December 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. Belden’s payout ratio is 3.53%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd grew its stake in Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after buying an additional 241 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Belden during the 2nd quarter worth approximately $36,000. NewEdge Advisors LLC grew its position in shares of Belden by 287.2% during the 1st quarter. NewEdge Advisors LLC now owns 453 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 336 shares in the last quarter. Quarry LP grew its position in shares of Belden by 153.6% during the 1st quarter. Quarry LP now owns 459 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 278 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Belden by 403.4% during the 2nd quarter. State of Wyoming now owns 438 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 99.16% of the company’s stock.
Belden Company Profile
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.
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