Belden (NYSE:BDC) Given “Buy” Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Belden (NYSE:BDC) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $119.00 price objective on the industrial products company’s stock, up from their previous price objective of $101.00.

Other equities analysts have also issued research reports about the company. Loop Capital increased their target price on Belden from $100.00 to $115.00 and gave the company a buy rating in a report on Friday, May 17th. StockNews.com lowered Belden from a buy rating to a hold rating in a report on Tuesday, May 28th. Finally, Benchmark reissued a buy rating and issued a $100.00 target price on shares of Belden in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $108.00.

Belden Stock Up 1.7 %

Belden stock opened at $96.31 on Friday. Belden has a twelve month low of $60.54 and a twelve month high of $99.13. The stock’s fifty day simple moving average is $90.58 and its 200-day simple moving average is $83.82. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.92 billion, a P/E ratio of 18.85 and a beta of 1.09.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. Belden’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share. As a group, equities analysts expect that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th. Belden’s payout ratio is 3.91%.

Insiders Place Their Bets

In other Belden news, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the transaction, the director now owns 13,704 shares of the company’s stock, valued at $1,308,732. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total transaction of $104,381.50. Following the completion of the sale, the director now owns 13,704 shares in the company, valued at $1,308,732. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Aldrich sold 6,700 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,400 shares of company stock valued at $911,900. 1.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Belden

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock valued at $455,156,000 after purchasing an additional 92,544 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Belden by 2.2% during 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 acquiring an additional 30,268 shares during the period. FMR LLC lifted its position in shares of Belden by 1,365.5% during the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock valued at $99,075,000 after acquiring an additional 956,136 shares during the period. Wellington Management Group LLP lifted its position in shares of Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after acquiring an additional 149,263 shares during the period. Finally, Channing Capital Management LLC lifted 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 valued at $70,998,000 after acquiring an additional 209,052 shares during the period. Institutional investors and hedge funds 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.