Belden (NYSE:BDC) Stock Passes Above 200 Day Moving Average – What’s Next?

Belden Inc. (NYSE:BDC)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $109.38 and traded as high as $117.47. Belden shares last traded at $114.37, with a volume of 244,815 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BDC shares. Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark increased their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden presently has a consensus rating of “Buy” and an average target price of $122.75.

Belden Stock Up 1.3 %

The firm’s 50 day moving average price is $119.32 and its 200-day moving average price is $109.42. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.68 billion, a P/E ratio of 26.97 and a beta of 1.09.

Belden (NYSE:BDC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, equities research analysts expect that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is currently 4.65%.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of Belden in the 2nd quarter valued at approximately $201,000. Texas Permanent School Fund Corp raised its holdings in shares of Belden by 18.2% during the second quarter. Texas Permanent School Fund Corp now owns 43,123 shares of the industrial products company’s stock worth $4,045,000 after acquiring an additional 6,643 shares during the period. AdvisorShares Investments LLC bought a new stake in Belden in the 2nd quarter valued at $503,000. Thoroughbred Financial Services LLC bought a new stake in Belden in the 2nd quarter valued at $254,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Belden by 18.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,877 shares of the industrial products company’s stock worth $1,583,000 after purchasing an additional 2,574 shares during the period. 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.