Belden (NYSE:BDC) Stock Rating Lowered by StockNews.com

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

Separately, Truist Financial boosted their price objective on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Belden Stock Performance

Shares of BDC stock opened at $84.30 on Monday. The business’s fifty day simple moving average is $86.92 and its 200-day simple moving average is $78.31. The company has a market cap of $3.43 billion, a PE ratio of 14.89 and a beta of 1.04. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. Belden has a 12-month low of $60.54 and a 12-month high of $99.13.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.34. The business had revenue of $551.24 million for the quarter, compared to the consensus estimate of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. The business’s quarterly revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 earnings per share. Analysts expect that Belden will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the sale, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Belden

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in Belden in the first quarter valued at $32,000. Quadrant Capital Group LLC boosted its holdings 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 purchasing an additional 244 shares during the last quarter. Principal Securities Inc. purchased a new stake in Belden in the fourth quarter valued at $72,000. Ronald Blue Trust Inc. boosted its stake in shares of Belden by 326.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 626 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Belden by 33,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 1,005 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

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.