Belden Inc (NYSE:BDC) Stock Has Consensus Target Price of $149.00

Shares of Belden Inc (NYSE:BDC) have earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $149.00.

A number of equities research analysts have recently weighed in on BDC shares. Jefferies Financial Group began coverage on shares of Belden in a research note on Wednesday. They set a “hold” rating and a $114.00 target price on the stock. Wall Street Zen downgraded Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Needham & Company LLC started coverage on Belden in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $140.00 target price for the company. Truist Financial restated a “buy” rating and issued a $145.00 target price (down from $155.00) on shares of Belden in a research note on Friday, July 31st. Finally, Weiss Ratings cut Belden from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 30th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BDC. Marshall Wace LLP boosted its stake in Belden by 42.5% during the third quarter. Marshall Wace LLP now owns 606,694 shares of the industrial products company’s stock worth $65,480,000 after acquiring an additional 180,927 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Belden by 24.5% during the third quarter. First Trust Advisors LP now owns 44,455 shares of the industrial products company’s stock valued at $4,798,000 after purchasing an additional 8,737 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Belden during the third quarter valued at approximately $554,000. USS Investment Management Ltd lifted its holdings in shares of Belden by 54.5% during the third quarter. USS Investment Management Ltd now owns 3,400 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Belden by 11.4% during the third quarter. Boston Partners now owns 434,442 shares of the industrial products company’s stock valued at $46,678,000 after purchasing an additional 44,448 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Belden Trading Down 0.6%

BDC opened at $101.64 on Friday. Belden has a one year low of $94.75 and a one year high of $159.99. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.82 and a quick ratio of 1.24. The business has a 50 day simple moving average of $108.70 and a two-hundred day simple moving average of $117.48. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 22.84 and a beta of 1.16.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.26 EPS for the quarter, hitting analysts’ consensus estimates of $2.26. Belden had a return on equity of 25.06% and a net margin of 5.62%. The company had revenue of $965.95 million during the quarter, compared to analyst estimates of $961.91 million. During the same quarter last year, the firm posted $1.97 earnings per share. The firm’s revenue was up 38.3% on a year-over-year basis. Analysts predict that Belden will post 8.66 EPS for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were given 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 is currently 4.49%.

About Belden

Belden Inc. develops and supplies connectivity and networking solutions that help organizations transmit data, audio and video. Its products include copper and fiber-optic cable, connectors, and networking equipment used to build and manage communications networks. The company serves industrial, enterprise and broadcast markets. Its solutions support applications such as factory automation, enterprise networking and the production and distribution of audio and video content. Belden sells to customers in markets around the world.