Belden (NYSE:BDC) Price Target Raised to $98.00 at Truist Financial

Belden (NYSE:BDCFree Report) had its price objective raised by Truist Financial from $89.00 to $98.00 in a research note released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other analysts have also recently issued research reports about the company. StockNews.com raised Belden from a hold rating to a buy rating in a research report on Wednesday, December 13th. The Goldman Sachs Group reduced their price target on Belden from $106.00 to $91.00 and set a buy rating for the company in a research report on Friday, November 3rd. Loop Capital lowered their price target on Belden from $110.00 to $105.00 and set a buy rating on the stock in a research note on Monday, October 16th. Finally, Fox Advisors downgraded Belden from an overweight rating to an equal weight rating in a report on Friday, October 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Belden presently has a consensus rating of Moderate Buy and an average target price of $103.40.

Get Our Latest Analysis on Belden

Belden Stock Up 3.1 %

BDC opened at $85.81 on Friday. Belden has a 12 month low of $60.54 and a 12 month high of $99.13. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72. The stock has a market cap of $3.58 billion, a P/E ratio of 15.16 and a beta of 1.02. The stock’s 50 day moving average price is $75.22 and its 200 day moving average price is $80.28.

Belden (NYSE:BDCGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. The company had revenue of $551.24 million for the quarter, compared to analysts’ expectations of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period last year, the firm earned $1.75 EPS. As a group, research analysts predict that Belden will post 5.33 earnings per share for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Thursday, December 14th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. Belden’s payout ratio is 3.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in shares of Belden in the 2nd quarter valued at $36,000. State of Wyoming raised its stake in Belden by 403.4% during the 2nd quarter. State of Wyoming now owns 438 shares of the industrial products company’s stock worth $42,000 after buying an additional 351 shares during the period. NewEdge Advisors LLC raised its stake in shares of Belden by 287.2% in the 1st quarter. NewEdge Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 336 shares during the period. Quarry LP raised its stake in shares of Belden by 153.6% in the 1st quarter. Quarry LP now owns 459 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 278 shares during the period. Finally, Point72 Hong Kong Ltd raised its stake in shares of Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 241 shares during the period. 99.16% of the stock is currently owned by institutional investors.

About Belden

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Belden Inc provides portfolio of signal transmission solutions 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, and home and building automation.

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