Belden Inc (NYSE:BDC) Receives Average Rating of "Buy" from Brokerages

Shares of Belden Inc (NYSE:BDC - Get Free Report) have been given an average recommendation of "Buy" by the five analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $128.20.

Several equities research analysts have recently commented on the company. Benchmark upped their price target on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group cut their price objective on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Wall Street Zen cut Belden from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

Belden Stock Performance

Shares of BDC opened at $111.94 on Tuesday. The stock has a 50 day moving average price of $106.17 and a 200 day moving average price of $108.66. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 21.61 and a beta of 1.23. Belden has a 52-week low of $83.18 and a 52-week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million during 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 was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. Research analysts predict that Belden will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is 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 dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president now directly owns 30,170 shares in the company, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.48% of the company's stock.

Institutional Investors Weigh In On Belden

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in Belden during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Belden in the 1st quarter worth approximately $35,000. Quarry LP grew its position in shares of Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after acquiring an additional 265 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after acquiring an additional 115 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Belden in the 1st quarter worth approximately $47,000. 98.75% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.