Loop Capital Maintains Belden (BDC) Buy Recommendation

Fintel reports that on October 16, 2023, Loop Capital maintained coverage of Belden (NYSE:BDC) with a Buy recommendation.

Analyst Price Forecast Suggests 54.42% Upside

As of October 5, 2023, the average one-year price target for Belden is 116.45. The forecasts range from a low of 111.10 to a high of $123.90. The average price target represents an increase of 54.42% from its latest reported closing price of 75.41.

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The projected annual revenue for Belden is 2,595MM, a decrease of 2.58%. The projected annual non-GAAP EPS is 6.54.

Belden Declares $0.05 Dividend

On August 21, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of September 13, 2023 received the payment on October 5, 2023. Previously, the company paid $0.05 per share.

At the current share price of $75.41 / share, the stock's dividend yield is 0.27%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.38%, the lowest has been 0.20%, and the highest has been 0.67%. The standard deviation of yields is 0.11 (n=235).

The current dividend yield is 1.04 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 765 funds or institutions reporting positions in Belden. This is an increase of 21 owner(s) or 2.82% in the last quarter. Average portfolio weight of all funds dedicated to BDC is 0.30%, an increase of 9.29%. Total shares owned by institutions decreased in the last three months by 0.96% to 52,326K shares. The put/call ratio of BDC is 0.48, indicating a bullish outlook.

What are Other Shareholders Doing?

Allspring Global Investments Holdings holds 1,556K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 1,488K shares, representing an increase of 4.37%. The firm increased its portfolio allocation in BDC by 15.72% over the last quarter.

Boston Partners holds 1,422K shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 1,495K shares, representing a decrease of 5.13%. The firm increased its portfolio allocation in BDC by 163.87% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,342K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 1,328K shares, representing an increase of 1.05%. The firm increased its portfolio allocation in BDC by 2.78% over the last quarter.

Alliancebernstein holds 1,321K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,267K shares, representing an increase of 4.09%. The firm increased its portfolio allocation in BDC by 9.55% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,291K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,321K shares, representing a decrease of 2.31%. The firm increased its portfolio allocation in BDC by 3.21% over the last quarter.

Belden Background Information
(This description is provided by the company.)

elden Inc., a global leader in high-quality, end-to-end signal transmission solutions, delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia.

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This story originally appeared on Fintel.

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