Belden (NYSE:BDC) Reaches New 52-Week Low - Time to Sell?

Key Points

• Belden shares hit a new 52-week low, trading as low as $96.06 before recovering to about $105.64. The stock remains below its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a generally positive outlook: Belden has a consensus “Moderate Buy” rating and an average price target of $156, although some firms recently downgraded or reduced their targets.
• Belden reported quarterly earnings in line with expectations at $2.26 per share, while revenue of $965.95 million exceeded estimates and increased 38.3% year over year. The company also pays a quarterly dividend of $0.05, representing a 0.2% yield.

Belden Inc (NYSE:BDC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $96.06 and last traded at $105.6410, with a volume of 53,088 shares changing hands. The stock had previously closed at $106.66.

Analyst Upgrades and Downgrades

Several research firms recently commented on BDC. Needham & Company LLC began coverage on Belden in a report on Wednesday, September 23rd. They issued a "buy" rating and a $140.00 price objective for the company. Truist Financial restated a "buy" rating and set a $145.00 target price (down from $155.00) on shares of Belden in a research note on Friday, July 31st. DA Davidson raised their price target on shares of Belden from $155.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Zacks Research lowered shares of Belden from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Belden Stock Down 0.2%

The company has a market cap of $4.16 billion, a P/E ratio of 17.40 and a beta of 1.13. The company has a quick ratio of 1.49, a current ratio of 2.14 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $112.22 and a 200 day moving average of $118.28.

Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, October 29th. The industrial products company reported $2.26 earnings per share for the quarter, meeting analysts' consensus estimates of $2.26. The company had revenue of $965.95 million for the quarter, compared to the consensus estimate of $961.91 million. Belden had a return on equity of 25.00% and a net margin of 8.52%. Belden's revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 earnings per share. On average, research analysts anticipate that Belden Inc will post 8.69 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. Belden's dividend payout ratio (DPR) is presently 3.25%.

Institutional Trading of Belden

Several large investors have recently added to or reduced their stakes in BDC. Ancora Advisors LLC purchased a new position in shares of Belden during the 2nd quarter valued at $27,000. Allworth Financial LP purchased a new stake in Belden in the 2nd quarter worth $35,000. Caitlin John LLC purchased a new stake in Belden in the 2nd quarter worth $49,000. GAMMA Investing LLC raised its holdings in Belden by 25.7% during the third quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company's stock valued at $63,000 after acquiring an additional 120 shares during the period. Finally, Signaturefd LLC raised its holdings in Belden by 39.8% during the third quarter. Signaturefd LLC now owns 587 shares of the industrial products company's stock valued at $63,000 after acquiring an additional 167 shares during the period. 98.75% of the stock is currently owned by institutional investors.

About Belden

Belden Inc NYSE: BDC is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.

Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden's offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.

Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.

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