Belden (NYSE:BDC) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of Belden (NYSE:BDC) in a research report report published on Monday morning, Benzinga reports. Benchmark currently has a $100.00 target price on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Belden from a hold rating to a buy rating in a report on Thursday, May 2nd. Truist Financial raised their price target on shares of Belden from $98.00 to $101.00 and gave the company a buy rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Belden presently has an average rating of Moderate Buy and an average target price of $102.40.

Belden Stock Up 0.4 %

BDC opened at $91.79 on Monday. The company has a 50 day moving average of $87.57 and a 200 day moving average of $78.67. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden has a 12 month low of $60.54 and a 12 month high of $99.13. The company has a market cap of $3.73 billion, a PE ratio of 17.96 and a beta of 1.07.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.19. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 earnings per share. On average, sell-side analysts expect that Belden will post 5.77 EPS for the current year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Insider Transactions at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Belden by 2.0% during the 3rd 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 last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Belden by 2.2% during the first 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 last quarter. FMR LLC increased its holdings in shares of Belden by 1,365.5% in the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares during the period. Wellington Management Group LLP lifted its stake in shares of Belden by 17.9% in 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 last quarter. Finally, Channing Capital Management LLC boosted its holdings in 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. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.