Is Belden, Inc. overvalued or undervalued?

As of 2 May 2024, Belden, Inc. has moved from an attractive to a fair valuation grade. The company is currently fairly valued. Key ratios include a P/E ratio of 22, an EV to EBITDA of 13.97, and a dividend yield of 16.99%. In comparison to peers, Encore Wire Corp. has a more attractive P/E ratio of 14.48, while EnerSys boasts an even lower P/E of 11.75, indicating that Belden's valuation is higher than some of its competitors.
Despite the recent stock performance showing a 1-year return of 17.73% compared to the S&P 500's 10.26%, the current valuation metrics suggest that Belden is not undervalued. The company's ROE stands at 18.81%, which is solid, but the overall market sentiment and peer comparisons indicate that it is fairly positioned in the market.