Belden Inc. (NYSE:BDC) Receives $130.25 Average PT from Brokerages

Shares of Belden Inc. (NYSE:BDC) have earned a consensus rating of “Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $128.20.

BDC has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price target on Belden from $139.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 4th. Finally, Loop Capital decreased their price objective on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th.

Insider Buying and Selling at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the sale, the senior vice president now directly owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashish Chand sold 14,535 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the transaction, the chief executive officer now directly owns 107,129 shares in the company, valued at approximately $11,939,527.05. The trade was a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,428 shares of company stock worth $2,589,774 over the last quarter. Insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDC. Aster Capital Management DIFC Ltd acquired a new position in shares of Belden during the fourth quarter valued at about $26,000. Quarry LP increased its stake in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 265 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Belden in the fourth quarter worth $61,000. First Horizon Advisors Inc. lifted its stake in shares of Belden by 49.9% during the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after buying an additional 211 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Belden by 31.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after buying an additional 199 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Stock Performance

Shares of BDC stock opened at $93.37 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $104.69 and a 200-day moving average price of $113.70. Belden has a 52 week low of $80.90 and a 52 week high of $131.82. The firm has a market capitalization of $3.76 billion, a PE ratio of 19.41 and a beta of 1.07.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, equities research analysts expect that Belden will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, March 13th. Belden’s dividend payout ratio (DPR) is currently 4.16%.

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.