Belden (NYSE:BDC) Announces Earnings Results

Belden (NYSE:BDCGet Rating) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17, Briefing.com reports. The business had revenue of $666.60 million for the quarter, compared to analysts’ expectations of $633.68 million. Belden had a return on equity of 25.14% and a net margin of 2.86%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share.

Belden Trading Up 0.0 %

BDC traded up $0.01 on Thursday, hitting $67.17. The company had a trading volume of 209,129 shares, compared to its average volume of 306,043. The company has a market cap of $2.97 billion, a PE ratio of 43.00 and a beta of 1.35. Belden has a 12-month low of $47.89 and a 12-month high of $68.87. The company has a quick ratio of 1.71, a current ratio of 2.39 and a debt-to-equity ratio of 1.28. The business’s fifty day simple moving average is $57.01 and its 200 day simple moving average is $55.72.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $0.20 annualized dividend and a yield of 0.30%. Belden’s dividend payout ratio is currently 12.82%.

Insider Buying and Selling

In other Belden news, EVP Ashish Chand bought 9,949 shares of the company’s stock in a transaction on Friday, June 17th. The stock was acquired at an average price of $50.36 per share, for a total transaction of $501,031.64. Following the completion of the transaction, the executive vice president now directly owns 55,772 shares of the company’s stock, valued at $2,808,677.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd boosted its position in shares of Belden by 88.0% during the first 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 period. Yousif Capital Management LLC raised its stake in shares of Belden by 1.4% during the first quarter. Yousif Capital Management LLC now owns 23,687 shares of the industrial products company’s stock valued at $1,312,000 after acquiring an additional 330 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Belden by 8.2% during the first quarter. Guggenheim Capital LLC now owns 7,862 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 595 shares in the last quarter. Invesco Ltd. raised its stake in shares of Belden by 0.5% during the first quarter. Invesco Ltd. now owns 156,047 shares of the industrial products company’s stock valued at $8,645,000 after acquiring an additional 815 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Belden by 8.2% during the first quarter. Bank of Montreal Can now owns 15,131 shares of the industrial products company’s stock valued at $867,000 after acquiring an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 99.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BDC. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 21st. Canaccord Genuity Group raised their price objective on Belden from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. TheStreet upgraded Belden from a “c+” rating to a “b-” rating in a research report on Thursday, May 26th. Truist Financial cut their price objective on Belden from $86.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Finally, The Goldman Sachs Group raised their price objective on Belden from $59.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Belden currently has an average rating of “Buy” and an average target price of $75.50.

About Belden

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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 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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Earnings History for Belden (NYSE:BDC)

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