Belden (NYSE:BDC) Stock Passes Above 200 Day Moving Average – Here’s Why

Belden Inc. (NYSE:BDC) passed 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.

Analysts Set New Price Targets

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

Belden Trading Down 1.6 %

The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.61 billion, a P/E ratio of 26.60 and a beta of 1.09. The firm’s 50-day simple moving average is $119.36 and its 200 day simple moving average is $109.38.

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

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s dividend payout ratio is presently 4.65%.

Insider Buying and Selling

In related news, CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Belden

Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in shares of Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Belden during the third quarter valued at about $11,814,000. State Street Corp lifted its holdings in shares of Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after buying an additional 100,145 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Belden in the third quarter valued at approximately $82,320,000. Finally, Lord Abbett & CO. LLC grew its stake in Belden by 10.6% during 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 acquiring an additional 68,151 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

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.