Loop Capital Lowers Belden (NYSE:BDC) Price Target to $145.00

Belden (NYSE:BDC) had its target price lowered by Loop Capital from $155.00 to $145.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on BDC. StockNews.com raised Belden from a “buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial raised their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Belden in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Belden has a consensus rating of “Buy” and a consensus price target of $130.25.

Belden Stock Performance

NYSE:BDC opened at $114.46 on Tuesday. The firm has a market capitalization of $4.62 billion, a PE ratio of 23.80 and a beta of 1.08. The business’s fifty day moving average price is $116.47 and its 200 day moving average price is $113.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43. Belden has a 12 month low of $78.64 and a 12 month high of $131.82.

Belden (NYSE:BDC) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, sell-side analysts anticipate that Belden will post 7.76 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden’s dividend payout ratio is currently 4.16%.

Insider Buying and Selling

In related news, SVP Leah Tate sold 2,400 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the sale, the senior vice president now owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock valued at $530,418,000 after purchasing an additional 223,887 shares during the period. State Street Corp lifted its position in Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after purchasing an additional 100,145 shares during the period. Geode Capital Management LLC lifted its position in Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after purchasing an additional 5,727 shares during the period. Lord Abbett & CO. LLC lifted its position in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after purchasing an additional 68,151 shares during the period. Finally, Norges Bank acquired a new stake in shares of Belden during the 4th quarter valued at approximately $54,167,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Company Profile

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.