Belden (NYSE:BDC) Shares Gap Up on Strong Earnings

Belden Inc. (NYSE:BDC)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $81.32, but opened at $88.31. Belden shares last traded at $88.01, with a volume of 46,501 shares traded.

The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. Belden’s revenue was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is presently 3.53%.

Analyst Ratings Changes

A number of analysts have commented on BDC shares. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial lifted their target price on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Belden has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Insiders Place Their Bets

In related news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is owned by insiders.

Institutional Trading of Belden

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDC. Whittier Trust Co. increased its position in shares of Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares in the last quarter. Rise Advisors LLC purchased a new stake in Belden in the 1st quarter worth $32,000. Quadrant Capital Group LLC raised its position in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares during the period. Principal Securities Inc. acquired a new stake in shares of Belden in the fourth quarter valued at about $72,000. Finally, TFO Wealth Partners LLC increased its stake in shares of Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,005 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 15.58 and a beta of 1.07. The firm’s 50-day moving average is $87.12 and its two-hundred day moving average is $78.22.

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.