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

StockNews.com upgraded shares of Belden (NYSE:BDC) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

BDC has been the topic of a number of other research reports. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Belden in a research note on Friday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $122.75.

Belden Stock Down 5.5 %

BDC stock opened at $114.24 on Friday. Belden has a 52 week low of $72.91 and a 52 week high of $131.82. The business has a 50-day simple moving average of $118.34 and a 200 day simple moving average of $111.85. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.61 billion, a PE ratio of 26.57 and a beta of 1.09.

Belden (NYSE:BDC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS. Sell-side analysts anticipate that Belden will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Thursday, December 12th. Belden’s payout ratio is 4.65%.

Insider Activity at Belden

In other news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents 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. 1.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Belden by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,076 shares of the industrial products company’s stock worth $2,915,000 after buying an additional 1,655 shares during the period. Canada Pension Plan Investment Board bought a new position in Belden during the second quarter worth $253,000. Mackenzie Financial Corp raised its stake 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 buying an additional 1,230 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in Belden by 42.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 16,736 shares of the industrial products company’s stock valued at $1,570,000 after acquiring an additional 5,006 shares during the last quarter. Finally, Creative Planning grew its holdings in Belden by 17.5% during the 2nd quarter. Creative Planning now owns 14,236 shares of the industrial products company’s stock worth $1,335,000 after acquiring an additional 2,117 shares during the period. Institutional investors and hedge funds 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.