Belden Inc. (NYSE:BDC - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $81.32, but opened at $88.31. Belden shares last traded at $88.01, with a volume of 46,501 shares traded.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on BDC. Truist Financial raised their price target on shares of Belden from $89.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, February 9th. StockNews.com lowered Belden from a "buy" rating to a "hold" rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.25.
Get Our Latest Stock Analysis on Belden
Belden Trading Up 9.3 %
The stock has a market cap of $3.62 billion, a P/E ratio of 15.54 and a beta of 1.07. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The firm's fifty day simple moving average is $86.91 and its 200-day simple moving average is $78.05.
Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.34. The company had revenue of $551.24 million during the quarter, compared to analysts' expectations of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. Belden's revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. Equities research analysts expect that Belden Inc. will post 5.33 EPS for the current fiscal year.
Belden Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. Belden's payout ratio is 3.53%.
Insider Buying and Selling
In other Belden news, EVP Brian Lieser sold 2,056 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the transaction, the executive vice president now directly owns 21,772 shares of the company's stock, valued at $1,791,835.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.59% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Belden
A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in Belden by 9.4% in the first quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company's stock worth $2,713,000 after acquiring an additional 2,507 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Belden by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company's stock worth $9,787,000 after purchasing an additional 11,010 shares during the period. Retirement Systems of Alabama boosted its position in Belden by 15.7% during the first quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company's stock valued at $22,631,000 after buying an additional 33,160 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Belden by 2.0% in the first quarter. Principal Financial Group Inc. now owns 171,484 shares of the industrial products company's stock worth $15,881,000 after buying an additional 3,386 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Belden by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the industrial products company's stock valued at $1,111,000 after acquiring an additional 300 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.
About Belden
(
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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.
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