Analysts Set Belden Inc. (NYSE:BDC) Target Price at $126.20

Belden Inc. (NYSE:BDC) has been given a consensus rating of “Buy” by the five analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $126.20.

A number of brokerages recently commented on BDC. Loop Capital reduced their price objective on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group dropped their price objective on Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Benchmark reissued a “buy” rating and issued a $120.00 target price on shares of Belden in a report on Monday. Finally, StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Insiders Place Their Bets

In other news, Director Gregory James Mccray sold 4,200 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the completion of the sale, the director now owns 4,199 shares in the company, valued at approximately $441,776.79. This trade represents a 50.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan C. Klein sold 2,129 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $110.00, for a total transaction of $234,190.00. Following the transaction, the director now directly owns 9,968 shares in the company, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,428 shares of company stock valued at $2,589,774. Company insiders own 1.48% of the company’s stock.

Institutional Trading of Belden

Several institutional investors have recently added to or reduced their stakes in BDC. Barclays PLC grew its holdings in shares of Belden by 189.4% during the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company’s stock valued at $9,386,000 after purchasing an additional 52,439 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Belden by 5.1% during the third quarter. Tidal Investments LLC now owns 8,742 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 426 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in Belden in the third quarter worth about $243,000. JPMorgan Chase & Co. grew its position in Belden by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock valued at $21,432,000 after buying an additional 23,936 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Belden by 1.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,877 shares of the industrial products company’s stock valued at $3,815,000 after buying an additional 372 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Stock Up 1.5 %

Shares of NYSE BDC opened at $105.11 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden has a 52-week low of $83.18 and a 52-week high of $131.82. The business has a 50-day moving average price of $99.78 and a 200 day moving average price of $111.39. The stock has a market cap of $4.18 billion, a PE ratio of 21.85 and a beta of 1.24.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.12. Belden had a return on equity of 21.42% and a net margin of 8.06%. The firm had revenue of $624.86 million for the quarter, compared to analysts’ expectations of $615.81 million. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that Belden will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Thursday, March 13th. Belden’s payout ratio is 3.86%.

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.