Belden (BDC) Price Target Increased to $97.00 by Analysts at Stifel Nicolaus

Belden (NYSE:BDC) had its price objective increased by Stifel Nicolaus from $90.00 to $97.00 in a report issued on Wednesday. The firm currently has an in-line rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Belden from a hold rating to a buy rating in a research report on Monday, September 11th. Canaccord Genuity restated a buy rating and set a $88.00 target price (up previously from $83.00) on shares of Belden in a research report on Wednesday, September 13th. Cross Research lowered shares of Belden from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Belden from a buy rating to a hold rating in a research report on Monday, November 6th. Finally, Guggenheim restated a buy rating and set a $90.00 target price on shares of Belden in a research report on Monday, September 25th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Belden presently has an average rating of Hold and a consensus target price of $89.50.

Shares of Belden (NYSE:BDC) traded up $0.10 on Wednesday, reaching $82.39. 85,665 shares of the company were exchanged, compared to its average volume of 291,038. Belden has a twelve month low of $64.60 and a twelve month high of $86.85. The firm has a market cap of $3,482.30, a price-to-earnings ratio of 16.13 and a beta of 2.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26.

Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The business had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. During the same quarter in the prior year, the business earned $1.29 EPS. Belden’s quarterly revenue was up 3.4% on a year-over-year basis. analysts anticipate that Belden will post 5.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, December 14th. Belden’s dividend payout ratio (DPR) is presently 13.79%.

In other news, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the sale, the senior vice president now directly owns 4,967 shares of the company’s stock, valued at approximately $391,945.97. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Greenwood Capital Associates LLC lifted its holdings in shares of Belden by 0.5% during the 2nd quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 14 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Belden by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 15 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Belden by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,132 shares of the industrial products company’s stock worth $1,971,000 after acquiring an additional 90 shares during the period. Capstone Asset Management Co. lifted its holdings in shares of Belden by 4.2% during the 2nd quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 140 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 160 shares during the period.

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About Belden

Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).

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