Belden (NYSE:BDC) Price Target Raised to $130.00

Belden (NYSE:BDC) had its target price boosted by Benchmark from $120.00 to $130.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on BDC. Truist Financial boosted their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $122.75.

Belden Price Performance

NYSE:BDC opened at $115.24 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 26.80 and a beta of 1.07. The stock has a 50 day moving average of $112.21 and a two-hundred day moving average of $100.07. Belden has a 12 month low of $60.54 and a 12 month high of $123.03. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the prior year, the company earned $1.78 EPS. Belden’s revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that Belden will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s payout ratio is presently 4.65%.

Insider Buying and Selling

In related news, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at $3,298,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in Belden by 15.8% in the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after buying an additional 42,600 shares during the last quarter. Retirement Systems of Alabama increased its stake in Belden by 2.1% in the second quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company’s stock valued at $23,410,000 after purchasing an additional 5,209 shares during the last quarter. Waters Parkerson & CO. LLC raised its holdings in Belden by 2.2% during the second quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company’s stock worth $20,103,000 after purchasing an additional 4,636 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Belden by 60.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 167,430 shares of the industrial products company’s stock worth $15,705,000 after buying an additional 63,216 shares during the last quarter. Finally, F M Investments LLC boosted its holdings in shares of Belden by 2.3% in the 3rd quarter. F M Investments LLC now owns 138,033 shares of the industrial products company’s stock valued at $16,168,000 after buying an additional 3,070 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Belden

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.