Belden (NYSE:BDC) Given New $115.00 Price Target at Benchmark

Belden (NYSE:BDC) had its price target increased by Benchmark from $110.00 to $115.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Belden from a hold rating to a buy rating in a report on Monday, June 17th. Loop Capital raised their price target on Belden from $100.00 to $115.00 and gave the stock a buy rating in a research note on Friday, May 17th. Truist Financial increased their price target on Belden from $123.00 to $124.00 and gave the stock a buy rating in a research report on Friday. Finally, Vertical Research initiated coverage on Belden in a research report on Tuesday, July 23rd. They set a buy rating and a $110.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Belden presently has a consensus rating of Moderate Buy and an average target price of $111.67.

Belden Trading Down 3.0 %

Belden stock opened at $96.32 on Friday. Belden has a one year low of $60.54 and a one year high of $102.47. The business’s fifty day moving average is $94.37 and its 200 day moving average is $88.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.83. The stock has a market capitalization of $3.92 billion, a PE ratio of 18.85 and a beta of 1.06.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $604.34 million for the quarter, compared to the consensus estimate of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. On average, sell-side analysts predict that Belden will post 5.85 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Thursday, June 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, June 13th. Belden’s dividend payout ratio is currently 3.91%.

Insider Activity at Belden

In other Belden news, Director David J. Aldrich sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now directly owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David J. Aldrich sold 6,700 shares of Belden stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now directly owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the transaction, the director now directly owns 12,097 shares in the company, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,219 shares of company stock worth $986,641. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Belden

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Belden by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock valued at $128,148,000 after buying an additional 30,268 shares during the period. Wellington Management Group LLP increased its holdings in Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the period. Channing Capital Management LLC boosted its position in shares of Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after acquiring an additional 209,052 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Belden by 32.5% during the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after acquiring an additional 224,486 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Belden by 13.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 611,585 shares of the industrial products company’s stock worth $47,245,000 after acquiring an additional 72,775 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.