Belden Inc (NYSE:BDC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Belden Inc (NYSE:BDC) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $140.00.

BDC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a research note on Wednesday, January 21st. Finally, Truist Financial increased their price target on shares of Belden from $149.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, December 19th.

Belden Price Performance

Shares of BDC stock opened at $139.90 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 1.99. Belden has a fifty-two week low of $83.18 and a fifty-two week high of $140.43. The firm has a market cap of $5.50 billion, a P/E ratio of 24.85 and a beta of 1.20. The business’s 50 day moving average price is $119.38 and its 200-day moving average price is $120.73.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 11th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, December 11th. Belden’s dividend payout ratio (DPR) is presently 3.55%.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 1,452 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $133.96, for a total transaction of $194,509.92. Following the sale, the chief accounting officer owned 4,642 shares in the company, valued at approximately $621,842.32. The trade was a 23.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Leah Tate sold 2,954 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $130.00, for a total transaction of $384,020.00. Following the completion of the transaction, the senior vice president owned 24,881 shares of the company’s stock, valued at approximately $3,234,530. The trade was a 10.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,045 shares of company stock valued at $2,010,690. Company insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Belden

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Belden by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,893,012 shares of the industrial products company’s stock worth $588,483,000 after buying an additional 93,274 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Belden by 2.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock valued at $126,328,000 after buying an additional 28,336 shares during the last quarter. Invesco Ltd. boosted its holdings in Belden by 4.0% in the third quarter. Invesco Ltd. now owns 1,015,651 shares of the industrial products company’s stock worth $122,152,000 after acquiring an additional 39,096 shares in the last quarter. Channing Capital Management LLC grew its stake in shares of Belden by 16.2% in the second quarter. Channing Capital Management LLC now owns 625,893 shares of the industrial products company’s stock worth $72,478,000 after acquiring an additional 87,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Belden by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 621,671 shares of the industrial products company’s stock worth $71,989,000 after acquiring an additional 31,834 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

About Belden

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.