Belden (NYSE:BDC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Belden (NYSE:BDC) from a buy rating to a strong-buy rating in a research report report published on Thursday.

A number of other research firms have also weighed in on BDC. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $122.75.

Belden Trading Down 1.2 %

Shares of BDC stock opened at $117.35 on Thursday. Belden has a 1 year low of $72.09 and a 1 year high of $131.82. The firm has a fifty day moving average price of $118.59 and a 200-day moving average price of $110.57. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 27.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 earnings per share. As a group, equities analysts predict that Belden will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio is currently 4.65%.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Several large investors have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after buying an additional 576,768 shares during the last quarter. Foundry Partners LLC bought a new stake in Belden during the third quarter worth approximately $11,814,000. State Street Corp raised its position in Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after purchasing an additional 100,145 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Belden in the 3rd quarter valued at approximately $82,320,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after purchasing an additional 68,151 shares during the period. Institutional investors own 98.75% 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.