Belden (NYSE:BDC) Reaches New 1-Year Low – What’s Next?

Belden Inc (NYSE:BDC)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $96.06 and last traded at $105.6410, with a volume of 53,088 shares traded. The stock had previously closed at $106.66.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings raised Belden from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. DA Davidson increased their price objective on shares of Belden from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Needham & Company LLC initiated coverage on shares of Belden in a research report on Wednesday, September 23rd. They set a “buy” rating and a $140.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $145.00 target price (down from $155.00) on shares of Belden in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Belden Stock Down 0.2%

The business has a 50-day moving average of $112.22 and a 200 day moving average of $118.28. The company has a market capitalization of $4.16 billion, a PE ratio of 17.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.14 and a quick ratio of 1.49.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. The business had revenue of $965.95 million during the quarter, compared to analysts’ expectations of $961.91 million. Belden had a return on equity of 25.00% and a net margin of 8.52%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Equities research analysts predict that Belden Inc will post 8.69 earnings per share for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, September 16th. Belden’s dividend payout ratio is currently 3.25%.

Institutional Investors Weigh In On Belden

Several large investors have recently bought and sold shares of BDC. Ancora Advisors LLC purchased a new stake in Belden during the second quarter valued at $27,000. Allworth Financial LP purchased a new position in shares of Belden in the 2nd quarter worth $35,000. Caitlin John LLC purchased a new position in shares of Belden in the 2nd quarter worth $49,000. Public Employees Retirement System of Ohio bought a new stake in shares of Belden in the 2nd quarter worth about $69,000. Finally, GAMMA Investing LLC increased its holdings in shares of Belden by 25.7% in the 3rd quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company’s stock worth $63,000 after buying an additional 120 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Company Profile

Belden Inc (NYSE: BDC) is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.

Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden’s offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.

Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.