Belden Inc (NYSE:BDC) Receives $128.20 Average Target Price from Analysts

Belden Inc (NYSE:BDC - Get Free Report) has been given an average rating of "Buy" by the five analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $128.20.

BDC has been the topic of several research reports. Benchmark boosted their target price on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Belden in a report on Friday, July 11th.

Belden Price Performance

NYSE BDC traded down $0.04 on Friday, reaching $127.59. The company's stock had a trading volume of 246,639 shares, compared to its average volume of 274,526. Belden has a twelve month low of $83.18 and a twelve month high of $131.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. The stock has a market cap of $5.04 billion, a PE ratio of 24.63 and a beta of 1.24. The firm's 50 day moving average is $113.98 and its two-hundred day moving average is $109.23.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.48 by $0.12. The company had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. As a group, sell-side analysts predict that Belden will post 7.07 EPS for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 12th. Belden's dividend payout ratio is currently 3.86%.

Insider Activity at Belden

In related news, SVP Leah Tate sold 231 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the transaction, the senior vice president directly owned 30,170 shares of the company's stock, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 7,158 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $130.51, for a total value of $934,190.58. Following the completion of the transaction, the senior vice president directly owned 39,574 shares in the company, valued at approximately $5,164,802.74. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maseco LLP purchased a new stake in shares of Belden in the second quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Belden during the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in Belden during the first quarter worth $35,000. Quarry LP lifted its holdings in Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after buying an additional 265 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Belden by 34.7% during the first quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

About Belden

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.