Belden (NYSE:BDC) Upgraded at StockNews.com

Belden (NYSE:BDC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

A number of other brokerages have also weighed in on BDC. Benchmark restated a “buy” rating and set a $100.00 target price on shares of Belden in a research report on Monday, May 6th. Truist Financial restated a “buy” rating and set a $119.00 target price (up previously from $101.00) on shares of Belden in a research report on Friday. Finally, Loop Capital upped their target price on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Belden Stock Performance

NYSE BDC traded up $1.60 during trading hours on Monday, hitting $96.31. 274,261 shares of the company’s stock traded hands, compared to its average volume of 261,089. The business’s fifty day moving average price is $90.58 and its two-hundred day moving average price is $83.82. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.92 billion, a P/E ratio of 18.85 and a beta of 1.09. Belden has a 52 week low of $60.54 and a 52 week high of $99.13.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 earnings per share. Equities research analysts predict that Belden will post 5.77 EPS for the current year.

Insider Transactions at Belden

In other news, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total value of $156,345.03. Following the transaction, the director now directly owns 12,097 shares in the company, valued at $1,176,917.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Belden news, Director Jonathan C. Klein sold 1,607 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total transaction of $156,345.03. Following the transaction, the director now directly owns 12,097 shares in the company, valued at approximately $1,176,917.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total transaction of $104,381.50. Following the completion of the sale, the director now owns 13,704 shares in the company, valued at $1,308,732. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,400 shares of company stock worth $911,900. Insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of institutional investors have recently modified their holdings of BDC. Rise Advisors LLC purchased a new position in shares of Belden in the 1st quarter valued at approximately $32,000. Whittier Trust Co. raised its position in shares of Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 298 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Belden in the 4th quarter valued at approximately $72,000. Finally, TFO Wealth Partners LLC raised its position in shares of Belden by 33,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 1,005 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

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.