Belden Inc (NYSE:BDC) Receives $140.00 Consensus PT from Analysts

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

Several brokerages have issued reports on BDC. Truist Financial boosted their target price on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Wall Street Zen upgraded Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st.

Insider Activity at Belden

In other news, Director Jonathan C. Klein sold 3,000 shares of Belden stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $124.19, for a total transaction of $372,570.00. Following the completion of the sale, the director owned 8,353 shares of the company’s stock, valued at approximately $1,037,359.07. The trade was a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Doug Zink sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $133.96, for a total value of $194,509.92. Following the completion of the sale, the chief accounting officer owned 4,642 shares of the company’s stock, valued at $621,842.32. The trade was a 23.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,045 shares of company stock worth $2,010,690. Corporate insiders own 1.48% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Belden by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,071,846 shares of the industrial products company’s stock worth $126,328,000 after acquiring an additional 28,336 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Belden during the third quarter worth $591,000. Ethic Inc. purchased a new stake in shares of Belden during the 2nd quarter valued at $252,000. Riverwater Partners LLC purchased a new stake in shares of Belden during the 3rd quarter valued at $1,834,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Belden by 28.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 275,726 shares of the industrial products company’s stock worth $31,929,000 after purchasing an additional 60,445 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Belden Price Performance

BDC stock opened at $140.92 on Friday. The stock has a market cap of $5.54 billion, a PE ratio of 25.03 and a beta of 1.20. Belden has a 12 month low of $83.18 and a 12 month high of $142.78. The company has a 50-day moving average price of $119.94 and a 200 day moving average price of $120.72. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03.

Belden Dividend Announcement

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

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.