Intrinsic value of Belden - BDC

Previous Close

$62.46

  Intrinsic Value

$151.51

stock screener

  Rating & Target

str. buy

+143%

Previous close

$62.46

 
Intrinsic value

$151.51

 
Up/down potential

+143%

 
Rating

str. buy

We calculate the intrinsic value of BDC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
Revenue, $m
  2,616
  2,852
  3,099
  3,355
  3,622
  3,900
  4,188
  4,487
  4,799
  5,122
  5,459
  5,809
  6,173
  6,552
  6,947
  7,359
  7,789
  8,236
  8,704
  9,192
  9,702
  10,235
  10,792
  11,374
  11,984
  12,622
  13,290
  13,989
  14,721
  15,489
Variable operating expenses, $m
  1,691
  1,826
  1,966
  2,113
  2,264
  2,422
  2,586
  2,757
  2,934
  3,118
  3,108
  3,307
  3,514
  3,730
  3,955
  4,190
  4,434
  4,689
  4,955
  5,233
  5,523
  5,826
  6,144
  6,475
  6,822
  7,185
  7,566
  7,964
  8,381
  8,817
Fixed operating expenses, $m
  618
  632
  646
  660
  675
  689
  705
  720
  736
  752
  769
  786
  803
  820
  839
  857
  876
  895
  915
  935
  955
  977
  998
  1,020
  1,042
  1,065
  1,089
  1,113
  1,137
  1,162
Total operating expenses, $m
  2,309
  2,458
  2,612
  2,773
  2,939
  3,111
  3,291
  3,477
  3,670
  3,870
  3,877
  4,093
  4,317
  4,550
  4,794
  5,047
  5,310
  5,584
  5,870
  6,168
  6,478
  6,803
  7,142
  7,495
  7,864
  8,250
  8,655
  9,077
  9,518
  9,979
Operating income, $m
  306
  394
  487
  583
  683
  788
  897
  1,010
  1,129
  1,252
  1,583
  1,716
  1,856
  2,002
  2,154
  2,313
  2,479
  2,652
  2,834
  3,024
  3,223
  3,432
  3,650
  3,879
  4,119
  4,371
  4,635
  4,912
  5,203
  5,509
EBITDA, $m
  603
  700
  801
  907
  1,017
  1,131
  1,251
  1,375
  1,505
  1,640
  1,780
  1,927
  2,079
  2,239
  2,405
  2,579
  2,761
  2,951
  3,149
  3,357
  3,574
  3,802
  4,041
  4,291
  4,553
  4,828
  5,116
  5,419
  5,736
  6,070
Interest expense (income), $m
  87
  84
  97
  110
  123
  137
  152
  167
  182
  199
  216
  233
  251
  271
  290
  311
  333
  355
  378
  403
  428
  455
  482
  511
  542
  573
  607
  641
  678
  716
  756
Earnings before tax, $m
  222
  298
  377
  460
  546
  636
  730
  828
  930
  1,036
  1,349
  1,465
  1,585
  1,711
  1,843
  1,980
  2,124
  2,274
  2,431
  2,596
  2,769
  2,949
  3,139
  3,337
  3,546
  3,764
  3,994
  4,235
  4,488
  4,753
Tax expense, $m
  60
  80
  102
  124
  147
  172
  197
  224
  251
  280
  364
  396
  428
  462
  498
  535
  573
  614
  656
  701
  748
  796
  847
  901
  957
  1,016
  1,078
  1,143
  1,212
  1,283
Net income, $m
  162
  217
  275
  336
  399
  465
  533
  605
  679
  756
  985
  1,069
  1,157
  1,249
  1,345
  1,446
  1,550
  1,660
  1,775
  1,895
  2,021
  2,153
  2,291
  2,436
  2,588
  2,748
  2,916
  3,091
  3,276
  3,470

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,205
  4,586
  4,982
  5,395
  5,824
  6,270
  6,733
  7,215
  7,715
  8,235
  8,776
  9,339
  9,925
  10,534
  11,170
  11,832
  12,522
  13,242
  13,993
  14,778
  15,598
  16,454
  17,350
  18,287
  19,267
  20,292
  21,366
  22,490
  23,668
  24,901
Adjusted assets (=assets-cash), $m
  4,205
  4,586
  4,982
  5,395
  5,824
  6,270
  6,733
  7,215
  7,715
  8,235
  8,776
  9,339
  9,925
  10,534
  11,170
  11,832
  12,522
  13,242
  13,993
  14,778
  15,598
  16,454
  17,350
  18,287
  19,267
  20,292
  21,366
  22,490
  23,668
  24,901
Revenue / Adjusted assets
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
  0.622
Average production assets, $m
  1,496
  1,631
  1,773
  1,919
  2,072
  2,231
  2,395
  2,567
  2,745
  2,930
  3,122
  3,323
  3,531
  3,748
  3,974
  4,209
  4,455
  4,711
  4,979
  5,258
  5,549
  5,854
  6,173
  6,506
  6,855
  7,220
  7,602
  8,002
  8,421
  8,859
Working capital, $m
  144
  157
  170
  185
  199
  214
  230
  247
  264
  282
  300
  319
  340
  360
  382
  405
  428
  453
  479
  506
  534
  563
  594
  626
  659
  694
  731
  769
  810
  852
Total debt, $m
  1,791
  2,030
  2,278
  2,537
  2,806
  3,085
  3,376
  3,678
  3,992
  4,318
  4,657
  5,010
  5,377
  5,759
  6,158
  6,573
  7,005
  7,457
  7,928
  8,420
  8,934
  9,471
  10,033
  10,620
  11,235
  11,878
  12,551
  13,256
  13,994
  14,767
Total liabilities, $m
  2,637
  2,875
  3,124
  3,382
  3,651
  3,931
  4,222
  4,524
  4,837
  5,164
  5,503
  5,856
  6,223
  6,605
  7,003
  7,418
  7,851
  8,303
  8,774
  9,266
  9,780
  10,317
  10,879
  11,466
  12,080
  12,723
  13,397
  14,101
  14,840
  15,613
Total equity, $m
  1,568
  1,710
  1,858
  2,012
  2,172
  2,339
  2,511
  2,691
  2,878
  3,072
  3,274
  3,483
  3,702
  3,929
  4,166
  4,413
  4,671
  4,939
  5,220
  5,512
  5,818
  6,138
  6,472
  6,821
  7,187
  7,569
  7,970
  8,389
  8,828
  9,288
Total liabilities and equity, $m
  4,205
  4,585
  4,982
  5,394
  5,823
  6,270
  6,733
  7,215
  7,715
  8,236
  8,777
  9,339
  9,925
  10,534
  11,169
  11,831
  12,522
  13,242
  13,994
  14,778
  15,598
  16,455
  17,351
  18,287
  19,267
  20,292
  21,367
  22,490
  23,668
  24,901
Debt-to-equity ratio
  1.140
  1.190
  1.230
  1.260
  1.290
  1.320
  1.340
  1.370
  1.390
  1.410
  1.420
  1.440
  1.450
  1.470
  1.480
  1.490
  1.500
  1.510
  1.520
  1.530
  1.540
  1.540
  1.550
  1.560
  1.560
  1.570
  1.570
  1.580
  1.590
  1.590
Adjusted equity ratio
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  162
  217
  275
  336
  399
  465
  533
  605
  679
  756
  985
  1,069
  1,157
  1,249
  1,345
  1,446
  1,550
  1,660
  1,775
  1,895
  2,021
  2,153
  2,291
  2,436
  2,588
  2,748
  2,916
  3,091
  3,276
  3,470
Depreciation, amort., depletion, $m
  297
  306
  315
  324
  333
  344
  354
  365
  376
  388
  198
  210
  223
  237
  252
  266
  282
  298
  315
  333
  351
  371
  391
  412
  434
  457
  481
  506
  533
  561
Funds from operations, $m
  459
  523
  590
  660
  732
  808
  887
  969
  1,055
  1,144
  1,183
  1,280
  1,381
  1,486
  1,597
  1,712
  1,832
  1,958
  2,090
  2,228
  2,372
  2,523
  2,682
  2,848
  3,022
  3,205
  3,397
  3,598
  3,809
  4,031
Change in working capital, $m
  12
  13
  14
  14
  15
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  34
  35
  37
  38
  40
  42
Cash from operations, $m
  446
  510
  576
  645
  718
  793
  871
  953
  1,038
  1,126
  1,164
  1,260
  1,361
  1,466
  1,575
  1,689
  1,809
  1,934
  2,064
  2,201
  2,344
  2,494
  2,651
  2,816
  2,989
  3,170
  3,360
  3,559
  3,769
  3,988
Maintenance CAPEX, $m
  -87
  -95
  -103
  -112
  -121
  -131
  -141
  -152
  -162
  -174
  -185
  -198
  -210
  -223
  -237
  -252
  -266
  -282
  -298
  -315
  -333
  -351
  -371
  -391
  -412
  -434
  -457
  -481
  -506
  -533
New CAPEX, $m
  -128
  -135
  -141
  -147
  -153
  -159
  -165
  -171
  -178
  -185
  -192
  -200
  -208
  -217
  -226
  -236
  -246
  -256
  -267
  -279
  -292
  -305
  -319
  -333
  -349
  -365
  -382
  -400
  -419
  -439
Cash from investing activities, $m
  -215
  -230
  -244
  -259
  -274
  -290
  -306
  -323
  -340
  -359
  -377
  -398
  -418
  -440
  -463
  -488
  -512
  -538
  -565
  -594
  -625
  -656
  -690
  -724
  -761
  -799
  -839
  -881
  -925
  -972
Free cash flow, $m
  231
  280
  332
  386
  443
  503
  565
  630
  697
  768
  786
  863
  942
  1,025
  1,112
  1,202
  1,297
  1,396
  1,499
  1,607
  1,720
  1,838
  1,962
  2,092
  2,228
  2,371
  2,521
  2,678
  2,843
  3,017
Issuance/(repayment) of debt, $m
  230
  239
  249
  259
  269
  280
  291
  302
  314
  326
  339
  353
  367
  382
  398
  415
  433
  451
  471
  492
  514
  537
  562
  587
  614
  643
  673
  705
  738
  773
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  230
  239
  249
  259
  269
  280
  291
  302
  314
  326
  339
  353
  367
  382
  398
  415
  433
  451
  471
  492
  514
  537
  562
  587
  614
  643
  673
  705
  738
  773
Total cash flow (excl. dividends), $m
  462
  518
  580
  645
  712
  783
  856
  932
  1,011
  1,094
  1,125
  1,215
  1,309
  1,408
  1,510
  1,617
  1,730
  1,847
  1,970
  2,099
  2,234
  2,375
  2,524
  2,679
  2,843
  3,014
  3,194
  3,383
  3,582
  3,790
Retained Cash Flow (-), $m
  -134
  -142
  -148
  -154
  -160
  -166
  -173
  -180
  -187
  -194
  -202
  -210
  -218
  -227
  -237
  -247
  -257
  -269
  -280
  -293
  -306
  -320
  -334
  -349
  -366
  -383
  -400
  -419
  -439
  -460
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  327
  376
  433
  491
  552
  616
  683
  752
  824
  900
  924
  1,006
  1,091
  1,180
  1,273
  1,370
  1,472
  1,578
  1,690
  1,806
  1,928
  2,056
  2,190
  2,330
  2,477
  2,632
  2,794
  2,964
  3,142
  3,330
Discount rate, %
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
  308
  332
  356
  374
  386
  393
  394
  389
  379
  364
  326
  306
  282
  257
  230
  203
  176
  150
  125
  103
  83
  65
  50
  38
  28
  20
  14
  9
  6
  4
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Belden Inc. is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security). The segments design, manufacture, and market a portfolio of signal transmission solutions for applications used in a variety of end markets, including broadcast, enterprise, and industrial. The Company's portfolio of signal transmission solutions provides transmission of data, sound, and video for various applications. The Company's sells its products to distributors, end users, installers, and to original equipment manufacturers (OEMs). The Company has manufacturing facilities in the United States, other manufacturing and operating facilities in Brazil, Canada, China, Japan, Mexico, and St. Kitts, as well as in various countries in Europe.

FINANCIAL RATIOS  of  Belden (BDC)

Valuation Ratios
P/E Ratio 20.6
Price to Sales 1.1
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 8.4
Price to Free Cash Flow 10.1
Growth Rates
Sales Growth Rate 2.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.8%
Cap. Spend. - 3 Yr. Gr. Rate 6.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 111%
Total Debt to Equity 111%
Interest Coverage 2
Management Effectiveness
Return On Assets 6.1%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 3.4%
Return On Equity 11.2%
Return On Equity - 3 Yr. Avg. 9.4%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 41.6%
Gross Margin - 3 Yr. Avg. 39%
EBITDA Margin 15.2%
EBITDA Margin - 3 Yr. Avg. 12.8%
Operating Margin 9.4%
Oper. Margin - 3 Yr. Avg. 7.5%
Pre-Tax Margin 5.3%
Pre-Tax Margin - 3 Yr. Avg. 3.5%
Net Profit Margin 5.4%
Net Profit Margin - 3 Yr. Avg. 3.8%
Effective Tax Rate -1.6%
Eff/ Tax Rate - 3 Yr. Avg. -19.8%
Payout Ratio 12.5%

BDC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BDC stock intrinsic value calculation we used $2388.643 million for the last fiscal year's total revenue generated by Belden. The default revenue input number comes from 0001 income statement of Belden. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BDC stock valuation model: a) initial revenue growth rate of 9.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.1%, whose default value for BDC is calculated based on our internal credit rating of Belden, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Belden.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BDC stock the variable cost ratio is equal to 65.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $605 million in the base year in the intrinsic value calculation for BDC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Belden.

Corporate tax rate of 27% is the nominal tax rate for Belden. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BDC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BDC are equal to 57.2%.

Life of production assets of 15.8 years is the average useful life of capital assets used in Belden operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BDC is equal to 5.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1434.235 million for Belden - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 40.638 million for Belden is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Belden at the current share price and the inputted number of shares is $2.5 billion.

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COMPANY NEWS

▶ Top Ranked Value Stocks to Buy for October 17th   [Oct-17-18 07:36AM  Zacks]
▶ Belden to Report Third Quarter 2018 Results on October 31   [Oct-15-18 09:00AM  Business Wire]
▶ How St. Louis stocks weathered this weeks tumble   [Oct-12-18 01:37PM  American City Business Journals]
▶ Top-Ranked Sector ETFs & Stocks to Buy Now   [Sep-20-18 10:05AM  Zacks]
▶ Belden to Participate in Upcoming Investor Events   [Aug-27-18 05:56PM  Business Wire]
▶ Belden Declares Quarterly Dividends   [Aug-20-18 02:57PM  Business Wire]
▶ Belden: 2Q Earnings Snapshot   [08:19AM  Associated Press]
▶ Belden Inc. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ 5 Top-Ranked Stocks to Ride on Rising P/E Investing   [Jul-16-18 12:35PM  InvestorPlace]
▶ When Should You Buy Belden Inc (NYSE:BDC)?   [Jun-21-18 02:47PM  Simply Wall St.]
▶ Belden to Participate in Upcoming Investor Events   [May-29-18 09:00AM  Business Wire]
▶ Belden Declares Quarterly Dividends   [May-24-18 12:01PM  Business Wire]
▶ Clayton company offers treatment, jobs for those with drug problems   [May-14-18 08:10AM  American City Business Journals]
▶ Belden: 1Q Earnings Snapshot   [07:48AM  Associated Press]
▶ Belden to Report First Quarter 2018 Results on May 2   [Apr-16-18 10:00AM  Business Wire]
▶ Belden Declares Quarterly Dividends   [Mar-01-18 01:01PM  Business Wire]
▶ Belden misses Street 4Q forecasts   [Feb-01-18 08:19AM  Associated Press]
▶ Belden Inc. to Host Earnings Call   [07:10AM  ACCESSWIRE]
▶ These Fat 9% to 24% ETF Yields are Traps   [Jan-27-18 03:56AM  Harvest Exchange]
▶ These 3 Dividend Stocks are Dead Meat on the Next Pullback   [Jan-26-18 03:56AM  Harvest Exchange]
▶ Belden to Report Fourth Quarter 2017 Results on February 1   [Jan-10-18 10:00AM  Business Wire]
▶ Belden Appoints Diane Brink to Board of Directors   [Dec-06-17 04:45PM  Business Wire]
▶ Belden Declares Quarterly Dividends   [Nov-30-17 01:01PM  Business Wire]
▶ ETFs with exposure to Belden, Inc. : November 8, 2017   [Nov-08-17 05:39PM  Capital Cube]
▶ Belden, Inc. Value Analysis (NYSE:BDC) : November 1, 2017   [Nov-01-17 01:07PM  Capital Cube]
▶ Belden beats 3Q profit forecasts   [07:48AM  Associated Press]
▶ Belden Inc. to Host Earnings Call   [06:15AM  ACCESSWIRE]
▶ Belden Sees Relative Strength Rating Climb To 74   [Oct-25-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Belden, Inc. : October 17, 2017   [Oct-17-17 09:35AM  Capital Cube]
▶ Belden to Report Third Quarter 2017 Results on November 1   [Oct-12-17 08:30AM  Business Wire]
▶ ProSoft Technology Certified as a Great Place To Work   [Oct-04-17 09:52AM  Business Wire]
▶ ETFs with exposure to Belden, Inc. : October 3, 2017   [Oct-03-17 10:55AM  Capital Cube]
▶ IBD Rating Upgrades: Belden Shows Improved Technical Strength   [03:00AM  Investor's Business Daily]
▶ New Strong Buy Stocks for September 29th   [Sep-29-17 08:35AM  Zacks]

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