Belden (NYSE:BDC) Raised to Strong-Buy at StockNews.com

Belden (NYSE:BDC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Truist Financial increased their target price on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Friday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Trading Down 0.1 %

BDC opened at $121.02 on Friday. The company’s 50 day moving average price is $118.42 and its two-hundred day moving average price is $111.71. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 28.14 and a beta of 1.09. Belden has a fifty-two week low of $72.91 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

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

Insider Activity at Belden

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDC. FMR LLC raised its position in shares of Belden by 14.8% during the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after purchasing an additional 576,768 shares during the period. Foundry Partners LLC acquired a new position in Belden during the third quarter worth $11,814,000. State Street Corp lifted its stake in shares of Belden by 6.8% in the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after buying an additional 100,145 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Belden during the third quarter worth about $82,320,000. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after acquiring an additional 68,151 shares during 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.