Belden (NYSE:BDC) Reaches New 12-Month High – What’s Next?

Belden Inc (NYSE:BDC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $135.61 and last traded at $136.1170, with a volume of 13306 shares. The stock had previously closed at $131.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Belden from $149.00 to $150.00 and gave the company a “buy” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Belden in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Belden from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Belden Price Performance

The firm has a market capitalization of $5.41 billion, a PE ratio of 24.46 and a beta of 1.20. The company has a 50-day moving average price of $118.85 and a 200-day moving average price of $120.65. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.99 and a quick ratio of 1.37.

Belden Announces Dividend

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

Insider Activity

In other Belden news, SVP Leah Tate sold 2,554 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $120.00, for a total value of $306,480.00. Following the completion of the transaction, the senior vice president directly owned 27,835 shares in the company, valued at approximately $3,340,200. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Doug Zink sold 4,000 shares of Belden stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $125.00, for a total value of $500,000.00. Following the completion of the sale, the chief accounting officer directly owned 4,642 shares of the company’s stock, valued at approximately $580,250. This represents a 46.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,154 shares of company stock valued at $1,371,050 over the last quarter. Insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Belden

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in Belden by 12,950.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the industrial products company’s stock valued at $31,000 after buying an additional 259 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Belden by 134.1% in the second quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Belden by 234.3% in the third quarter. Smartleaf Asset Management LLC now owns 331 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 232 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in Belden during the 2nd quarter valued at approximately $52,000. Finally, Hantz Financial Services Inc. increased its holdings in Belden by 152.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 457 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Company Profile

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.