Loop Capital Cuts Belden (NYSE:BDC) Price Target to $145.00

Belden (NYSE:BDC) had its price objective trimmed by Loop Capital from $155.00 to $145.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also recently commented on BDC. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial upped their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and set a $130.00 price target on shares of Belden in a research note on Monday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $130.25.

Belden Price Performance

BDC stock opened at $114.46 on Tuesday. Belden has a 1 year low of $78.64 and a 1 year high of $131.82. The firm has a market capitalization of $4.62 billion, a PE ratio of 23.80 and a beta of 1.08. The business has a 50 day simple moving average of $116.47 and a 200-day simple moving average of $113.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. Equities research analysts anticipate that Belden will post 7.76 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden’s dividend payout ratio (DPR) is 4.16%.

Insiders Place Their Bets

In other news, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $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 accessible through the SEC website. 1.59% of the stock is owned by insiders.

Institutional Trading of Belden

Hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Belden in the third quarter valued at $608,000. GSA Capital Partners LLP acquired a new stake in shares of Belden in the third quarter valued at $687,000. Citigroup Inc. raised its stake in shares of Belden by 157.5% in the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company’s stock valued at $3,801,000 after acquiring an additional 19,849 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after acquiring an additional 5,727 shares in the last quarter. Finally, Foster & Motley Inc. increased its holdings in Belden by 25.3% in the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock valued at $4,530,000 after buying an additional 7,819 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.