Belden (NYSE:BDC) Receives Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Belden (NYSE:BDC) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $100.00 target price on the industrial products company’s stock.

Several other equities analysts also recently weighed in on the company. Truist Financial raised their price target on Belden from $98.00 to $101.00 and gave the company a buy rating in a report on Friday. StockNews.com upgraded shares of Belden from a hold rating to a buy rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $102.40.

Belden Trading Down 0.6 %

Shares of NYSE BDC opened at $87.71 on Monday. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83. The firm has a 50-day moving average of $87.17 and a 200 day moving average of $78.36. The stock has a market cap of $3.57 billion, a P/E ratio of 17.16 and a beta of 1.07.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the business earned $1.68 earnings per share. As a group, sell-side analysts expect that Belden will post 5.77 EPS for the current fiscal year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Buying and Selling

In other news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Belden

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Belden during the first quarter valued at $32,000. Whittier Trust Co. grew its stake in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 298 shares during the period. Quadrant Capital Group LLC increased its position in shares of Belden by 41.7% during 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 during the last quarter. Principal Securities Inc. bought a new position in shares of Belden in the 4th quarter worth approximately $72,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after buying an additional 1,005 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

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.