Belden (NYSE:BDC) Stock Rating Reaffirmed by Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report released on Monday, Benzinga reports. They currently have a $100.00 target price on the industrial products company’s stock. Benchmark’s target price suggests a potential upside of 10.61% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Truist Financial lifted their price objective on shares of Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Belden currently has an average rating of “Moderate Buy” and a consensus target price of $102.40.

Belden Stock Up 3.0 %

Shares of NYSE BDC opened at $90.41 on Monday. The firm has a market capitalization of $3.68 billion, a PE ratio of 17.69 and a beta of 1.07. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The firm’s 50-day moving average is $87.30 and its 200-day moving average is $78.49.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping 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 business had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. During the same quarter last year, the firm earned $1.68 EPS. Belden’s quarterly revenue was down 16.5% compared to the same quarter last year. Equities analysts expect that Belden will post 5.77 EPS for the current year.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of institutional investors have recently made changes to their positions in BDC. Rise Advisors LLC bought a new stake in shares of Belden in the first quarter worth $32,000. Whittier Trust Co. raised its position in Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares in the last quarter. Quadrant Capital Group LLC raised its position in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. bought a new stake in Belden during the fourth quarter worth $72,000. Finally, TFO Wealth Partners LLC raised its position in Belden by 33,500.0% during the fourth 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. 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.