Belden (NYSE:BDC) Given New $101.00 Price Target at Truist Financial

Belden (NYSE:BDC) had its price target hoisted by Truist Financial from $98.00 to $101.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Separately, StockNews.com raised Belden from a hold rating to a buy rating in a research report on Thursday, May 2nd. One investment 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 has a consensus rating of Moderate Buy and a consensus price target of $102.40.

Belden Trading Down 0.6 %

Belden stock opened at $87.71 on Friday. The stock has a 50-day moving average price of $87.12 and a 200 day moving average price of $78.25. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The stock has a market cap of $3.57 billion, a PE ratio of 17.16 and a beta of 1.07. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.19. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.68 EPS. Equities research analysts predict that Belden will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. Belden’s payout ratio is 3.91%.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. increased its holdings in shares of Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 298 shares during the period. Rise Advisors LLC acquired a new position in Belden during the 1st quarter valued at about $32,000. Quadrant Capital Group LLC raised its position in shares of Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Belden in the 4th quarter worth approximately $72,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

About Belden

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.