Belden (NYSE:BDC) PT Raised to $101.00

Belden (NYSE:BDC) had its price target boosted by stock analysts at Truist Financial from $98.00 to $101.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price would suggest a potential upside of 12.47% from the company’s current price.

Separately, StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Belden Stock Performance

BDC stock traded up $0.89 during mid-day trading on Friday, reaching $89.80. The company had a trading volume of 6,009 shares, compared to its average volume of 272,302. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. Belden has a one year low of $60.54 and a one year high of $99.13. The stock’s 50-day simple moving average is $87.04 and its two-hundred day simple moving average is $78.13. The stock has a market capitalization of $3.65 billion, a P/E ratio of 15.97 and a beta of 1.07.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 25.11% and a net margin of 9.66%. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same period last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Research analysts anticipate that Belden will post 5.33 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 stock was 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 in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.59% of the stock is owned by company insiders.

Institutional Trading of Belden

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after purchasing an additional 92,544 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Belden by 2.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock worth $128,148,000 after acquiring an additional 30,268 shares in the last quarter. FMR LLC grew its holdings in shares of Belden by 1,365.5% during the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in shares of Belden by 29.4% in the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock valued at $70,998,000 after acquiring an additional 209,052 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

About Belden

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.