Belden (NYSE:BDC) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Belden (NYSE:BDC) from a strong-buy rating to a buy rating in a research note released on Sunday.

Several other research firms also recently commented on BDC. Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Belden in a report on Friday, January 24th. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $122.75.

Belden Trading Up 1.8 %

Belden stock opened at $115.43 on Friday. The stock has a 50-day moving average price of $117.63 and a 200 day moving average price of $112.70. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 26.84 and a beta of 1.08. Belden has a 52 week low of $72.91 and a 52 week high of $131.82. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio is presently 4.65%.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction that occurred on 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. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Belden during the 3rd quarter worth $608,000. GSA Capital Partners LLP purchased a new stake in Belden during the 3rd quarter valued at about $687,000. Citigroup Inc. raised its holdings in Belden by 157.5% in the 3rd quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company’s stock valued at $3,801,000 after acquiring an additional 19,849 shares during the last quarter. Geode Capital Management LLC lifted its stake in Belden by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after purchasing an additional 5,727 shares in the last quarter. Finally, Foster & Motley Inc. boosted its holdings in shares of Belden by 25.3% during the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock worth $4,530,000 after purchasing an additional 7,819 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other 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.