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

Belden (NYSE:BDC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other brokerages have also weighed in on BDC. Benchmark reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belden in a research note on Monday, May 6th. Truist Financial reaffirmed a “buy” rating and issued a $119.00 target price (up from $101.00) on shares of Belden in a research note on Friday, June 14th. Finally, Loop Capital increased their price objective on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Belden Stock Performance

Shares of Belden stock opened at $96.11 on Monday. The firm has a fifty day moving average of $90.72 and a two-hundred day moving average of $84.03. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 18.79 and a beta of 1.09. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. During the same quarter in the previous year, the business earned $1.68 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts predict that Belden will post 5.77 EPS for the current year.

Insider Transactions at Belden

In related news, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total transaction of $104,381.50. Following the sale, the director now owns 13,704 shares in the company, valued at approximately $1,308,732. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now owns 53,396 shares in the company, valued at approximately $5,189,557.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the sale, the director now owns 13,704 shares in the company, valued at approximately $1,308,732. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,400 shares of company stock valued at $911,900. 1.59% of the stock is currently owned by company insiders.

Institutional Trading of Belden

A number of hedge funds have recently added to or reduced their stakes in BDC. Rise Advisors LLC acquired a new stake in Belden in the first quarter valued at approximately $32,000. Whittier Trust Co. boosted its position in Belden by 662.2% in the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after buying an additional 244 shares in the last quarter. Principal Securities Inc. acquired a new stake in Belden in the fourth quarter valued at approximately $72,000. Finally, TFO Wealth Partners LLC boosted its position in Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after buying an additional 1,005 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

About Belden

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.