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Belden Inc. (NYSE:BDC) Given Consensus Rating of "Buy" by Brokerages

Defense World · Oct 1, 2022 02:21

Shares of Belden Inc. (NYSE:BDC – Get Rating) have earned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $78.50.

Several brokerages have commented on BDC. Truist Financial upped their target price on shares of Belden from $67.00 to $77.00 in a research report on Thursday, August 4th. The Goldman Sachs Group raised their target price on shares of Belden from $59.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, August 4th.

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Insider Buying and Selling

In other Belden news, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction on Monday, August 8th. The stock was sold at an average price of $66.90, for a total transaction of $66,900.00. Following the sale, the director now owns 15,053 shares of the company's stock, valued at approximately $1,007,045.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Belden news, CEO Roel Vestjens sold 14,424 shares of the company's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.66, for a total transaction of $961,503.84. Following the transaction, the chief executive officer now owns 44,865 shares of the company's stock, valued at approximately $2,990,700.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jonathan C. Klein sold 1,000 shares of the company's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $66.90, for a total transaction of $66,900.00. Following the sale, the director now owns 15,053 shares of the company's stock, valued at approximately $1,007,045.70. The disclosure for this sale can be found here. Insiders sold a total of 19,424 shares of company stock worth $1,294,844 over the last 90 days. 1.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Belden

A number of large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd lifted its holdings in shares of Belden by 88.0% during the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company's stock worth $29,000 after purchasing an additional 241 shares during the period. Pinebridge Investments L.P. increased its stake in Belden by 483.0% in the second quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 483 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Belden by 2,935.1% in the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 1,086 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in Belden by 116.5% in the second quarter. Eagle Bay Advisors LLC now owns 1,518 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 817 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Belden by 95.5% in the second quarter. Captrust Financial Advisors now owns 1,560 shares of the industrial products company's stock valued at $83,000 after purchasing an additional 762 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Belden Stock Performance

Shares of NYSE:BDC opened at $60.02 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.39 and a quick ratio of 1.72. Belden has a 12 month low of $47.89 and a 12 month high of $70.97. The firm has a market capitalization of $2.61 billion, a PE ratio of 31.59 and a beta of 1.33. The business has a 50-day moving average of $65.36 and a two-hundred day moving average of $58.39.

Belden (NYSE:BDC – Get Rating) last released its earnings results on Wednesday, August 3rd. The industrial products company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.17. Belden had a return on equity of 25.73% and a net margin of 3.37%. The company had revenue of $666.60 million for the quarter, compared to the consensus estimate of $633.68 million. During the same quarter last year, the business posted $1.21 EPS. Belden's quarterly revenue was up 15.7% compared to the same quarter last year. As a group, research analysts forecast 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 Thursday, October 6th. Shareholders of record on Thursday, September 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, September 14th. Belden's dividend payout ratio is currently 10.53%.

About Belden

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.