Belden’s (BDC) Buy Rating Reaffirmed at Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued on Friday,Benzinga reports. They presently have a $130.00 target price on the industrial products company’s stock. Benchmark’s target price would indicate a potential upside of 7.48% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $122.75.

Belden Stock Performance

Belden stock opened at $120.96 on Friday. The company has a market cap of $4.88 billion, a PE ratio of 28.13 and a beta of 1.09. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. Belden has a 1 year low of $72.91 and a 1 year high of $131.82. The company’s 50-day moving average is $118.38 and its two-hundred day moving average is $111.22.

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

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the sale, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in shares of Belden by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 31,076 shares of the industrial products company’s stock valued at $2,915,000 after acquiring an additional 1,655 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Belden by 13.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,297 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 622 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Belden in the second quarter valued at $253,000. Dark Forest Capital Management LP grew its stake in shares of Belden by 94.2% in the second quarter. Dark Forest Capital Management LP now owns 9,261 shares of the industrial products company’s stock valued at $869,000 after buying an additional 4,492 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Belden by 13.2% during the second quarter. Mackenzie Financial Corp now owns 10,547 shares of the industrial products company’s stock worth $989,000 after acquiring an additional 1,230 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.