Belden (NYSE:BDC) Reaches New 52-Week Low – Should You Sell?

Belden Inc (NYSE:BDC)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $95.00 and last traded at $97.6150, with a volume of 260,821 shares changing hands. The stock had previously closed at $105.15.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of Belden in a report on Wednesday, September 23rd. They set a “buy” rating and a $140.00 price target on the stock. Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. DA Davidson raised their target price on Belden from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Truist Financial reiterated a “buy” rating and issued a $145.00 price target (down from $155.00) on shares of Belden in a research report on Friday, July 31st. Finally, Zacks Research lowered Belden from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Belden presently has an average rating of “Moderate Buy” and an average price target of $156.00.

Belden Stock Performance

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.82 and a quick ratio of 1.24. The company’s 50-day moving average price is $110.70 and its two-hundred day moving average price is $118.00. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 22.27 and a beta of 1.16.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 29th. The industrial products company reported $2.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.26. The business had revenue of $965.95 million during the quarter, compared to the consensus estimate of $961.91 million. Belden had a net margin of 5.62% and a return on equity of 25.06%. Belden’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.97 earnings per share. On average, equities research analysts anticipate that Belden Inc will post 8.66 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Belden’s dividend payout ratio (DPR) is 4.49%.

Institutional Investors Weigh In On Belden

Institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC bought a new stake in Belden in the second quarter worth approximately $27,000. Allworth Financial LP acquired a new position in Belden in the second quarter valued at approximately $35,000. Caitlin John LLC acquired a new position in Belden in the second quarter valued at approximately $49,000. Covestor Ltd boosted its holdings in shares of Belden by 90.1% during the 3rd quarter. Covestor Ltd now owns 498 shares of the industrial products company’s stock worth $54,000 after buying an additional 236 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Belden by 25.7% during the 3rd quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company’s stock worth $63,000 after buying an additional 120 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

About Belden

Belden Inc (NYSE: BDC) is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.

Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden’s offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.

Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.