Belden Inc (NYSE:BDC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Belden Inc (NYSE:BDC) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $140.00.

A number of research firms have recently commented on BDC. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Belden in a research note on Wednesday, January 21st. Finally, Truist Financial upped their price target on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, December 19th.

Belden Stock Performance

Shares of BDC stock opened at $139.90 on Friday. The firm’s 50 day moving average is $119.38 and its 200 day moving average is $120.73. The stock has a market capitalization of $5.50 billion, a P/E ratio of 24.85 and a beta of 1.20. Belden has a 12 month low of $83.18 and a 12 month high of $140.43. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th were paid a $0.05 dividend. The ex-dividend date was Thursday, December 11th. This represents a $0.20 annualized dividend and a yield of 0.1%. Belden’s dividend payout ratio is currently 3.55%.

Insider Activity

In related news, Director Jonathan C. Klein sold 3,000 shares of Belden stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $124.19, for a total transaction of $372,570.00. Following the completion of the sale, the director owned 8,353 shares of the company’s stock, valued at approximately $1,037,359.07. This trade represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leah Tate sold 2,954 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $130.00, for a total value of $384,020.00. Following the completion of the transaction, the senior vice president owned 24,881 shares in the company, valued at $3,234,530. This represents a 10.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,045 shares of company stock valued at $2,010,690 in the last quarter. 1.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in Belden by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock worth $126,328,000 after acquiring an additional 28,336 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Belden during the 3rd quarter valued at $591,000. Ethic Inc. bought a new stake in Belden in the 2nd quarter worth $252,000. JPMorgan Chase & Co. increased its position in shares of Belden by 28.1% in the second quarter. JPMorgan Chase & Co. now owns 275,726 shares of the industrial products company’s stock valued at $31,929,000 after acquiring an additional 60,445 shares during the period. Finally, Riverwater Partners LLC bought a new position in shares of Belden during the third quarter valued at about $1,834,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Belden

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.