Belden (NYSE:BDC) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Belden (NYSE:BDC) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $114.00 price objective on the industrial products company’s stock.

Several other research analysts have also commented on BDC. DA Davidson lifted their price target on Belden from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Weiss Ratings lowered shares of Belden from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Needham & Company LLC assumed coverage on shares of Belden in a report on Wednesday, September 23rd. They issued a “buy” rating and a $140.00 price objective for the company. Truist Financial restated a “buy” rating and set a $145.00 price objective (down from $155.00) on shares of Belden in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Belden has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Belden Price Performance

BDC stock opened at $101.64 on Wednesday. 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 200-day simple moving average of $117.48. The firm has a market capitalization of $3.97 billion, a PE ratio of 22.84 and a beta of 1.16. Belden has a 1 year low of $94.75 and a 1 year high of $159.99.

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

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, September 16th. Belden’s dividend payout ratio is presently 4.49%.

Institutional Investors Weigh In On Belden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Belden during the 2nd quarter worth approximately $616,536,000. Bank of New York Mellon Corp purchased a new stake in Belden in the second quarter valued at approximately $35,834,000. Bank of America Corp DE purchased a new stake in Belden in the second quarter valued at approximately $27,240,000. Marshall Wace LLP lifted 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 purchasing an additional 180,927 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Belden during the second quarter worth $21,361,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

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.