Belden (NYSE:BDC) Upgraded at StockNews.com

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

A number of other equities analysts have also commented on BDC. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial increased their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Belden currently has an average rating of “Buy” and an average target price of $122.75.

Belden Trading Up 1.1 %

Belden stock opened at $118.65 on Thursday. Belden has a 1 year low of $71.20 and a 1 year high of $131.82. The firm’s 50 day moving average price is $118.96 and its 200-day moving average price is $110.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The stock has a market cap of $4.79 billion, a P/E ratio of 27.59 and a beta of 1.09.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million for the quarter, compared to the consensus estimate of $643.63 million. During the same period in the previous year, the firm posted $1.78 EPS. Belden’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Belden will post 6.12 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Belden by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after buying an additional 148 shares during the period. US Bancorp DE boosted its position in shares of Belden by 7.4% during the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after buying an additional 193 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after buying an additional 209 shares during the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of Belden in the third quarter worth approximately $25,000. Hedge funds and other 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.