Belden (NYSE:BDC) Shares Gap Down – What’s Next?

Shares of Belden Inc. (NYSE:BDC) gapped down prior to trading on Thursday . The stock had previously closed at $116.29, but opened at $110.82. Belden shares last traded at $110.89, with a volume of 27,911 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $130.00 price objective on shares of Belden in a research report on Friday, January 24th. Truist Financial upped their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Stock Up 0.4 %

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 stock has a market capitalization of $4.71 billion, a PE ratio of 26.95 and a beta of 1.08. The firm’s fifty day moving average is $117.51 and its 200-day moving average is $112.73.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 20.55% and a net margin of 7.61%. On average, equities research analysts predict that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a dividend of $0.05 per share. The ex-dividend date was 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 (DPR) is presently 4.65%.

Institutional Trading of Belden

Several hedge funds and other institutional investors have recently made changes to their positions in BDC. Creative Planning increased its holdings in Belden by 17.5% in the second quarter. Creative Planning now owns 14,236 shares of the industrial products company’s stock valued at $1,335,000 after buying an additional 2,117 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Belden in the 2nd quarter valued at approximately $409,000. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. Matrix Trust Co purchased a new stake in Belden in the 3rd quarter worth approximately $25,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Belden by 9.2% during the 3rd quarter. Ritholtz Wealth Management now owns 5,679 shares of the industrial products company’s stock worth $665,000 after purchasing an additional 479 shares during the period. 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.