Belden (NYSE:BDC) Issues Earnings Results

Belden (NYSE:BDC) posted its quarterly earnings results on Thursday. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.60 by $0.10, Briefing.com reports. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Belden updated its Q4 guidance to $1.62-1.72 EPS and its Q4 2024 guidance to 1.620-1.720 EPS.

Belden Stock Performance

NYSE BDC traded up $1.37 during trading hours on Friday, hitting $115.24. The company had a trading volume of 353,767 shares, compared to its average volume of 272,461. The business has a 50 day moving average of $112.21 and a 200-day moving average of $99.96. The company has a market cap of $4.70 billion, a PE ratio of 24.52 and a beta of 1.07. Belden has a 1-year low of $60.54 and a 1-year high of $123.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 4.26%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday. Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Finally, Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden has an average rating of “Buy” and a consensus target price of $116.40.

Insider Activity

In related news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now owns 6,954 shares in the company, valued at approximately $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,318 shares of company stock valued at $1,020,715. Insiders own 1.59% 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.