Benchmark Boosts Belden (NYSE:BDC) Price Target to $120.00

Belden (NYSE:BDC) had its target price increased by Benchmark from $115.00 to $120.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts have also issued reports on the stock. Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a buy rating and a $110.00 target price for the company. StockNews.com upgraded Belden from a hold rating to a buy rating in a report on Monday, June 17th. Finally, Truist Financial lifted their price objective on Belden from $123.00 to $124.00 and gave the company a buy rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Belden has an average rating of Moderate Buy and a consensus price target of $112.50.

Belden Stock Up 2.1 %

Shares of BDC opened at $112.43 on Wednesday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 21.66 and a beta of 1.07. Belden has a 12-month low of $60.54 and a 12-month high of $112.87. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $99.62 and a 200-day moving average price of $93.87.

Belden (NYSE:BDC) last issued its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 earnings per share. Equities research analysts expect that Belden will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden’s dividend payout ratio is presently 3.91%.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,137 shares of company stock worth $1,095,457. 1.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Belden

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in shares of Belden by 198.4% during the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after acquiring an additional 8,169 shares in the last quarter. Gendell Jeffrey L increased its holdings in shares of Belden by 59.0% during the fourth quarter. Gendell Jeffrey L now owns 53,882 shares of the industrial products company’s stock valued at $4,162,000 after acquiring an additional 20,000 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Belden by 8.0% during the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock valued at $9,195,000 after acquiring an additional 7,340 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Belden by 17.9% during the fourth 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 in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after acquiring an additional 98,503 shares in the last quarter. 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.