Belden (NYSE:BDC) Upgraded at StockNews.com

StockNews.com upgraded shares of Belden (NYSE:BDC) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday.

Other research analysts also recently issued research reports about the company. Benchmark upped their target price on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $122.75.

Belden Trading Down 1.2 %

BDC opened at $117.35 on Thursday. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 27.29 and a beta of 1.09. Belden has a one year low of $72.09 and a one year high of $131.82. The business has a 50 day simple moving average of $118.59 and a two-hundred day simple moving average of $110.57. 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 released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the previous year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts predict that Belden will post 6.12 EPS for the current year.

Belden Announces Dividend

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, December 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insiders Place Their Bets

In other Belden news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction 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 approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

Several institutional investors and hedge funds have recently made changes to their positions in BDC. SG Americas Securities LLC lifted its position in Belden by 0.7% in the 4th quarter. SG Americas Securities LLC now owns 34,018 shares of the industrial products company’s stock valued at $3,831,000 after acquiring an additional 252 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Belden by 9.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 32,152 shares of the industrial products company’s stock valued at $3,621,000 after purchasing an additional 2,757 shares in the last quarter. Matrix Trust Co boosted its position in shares of Belden by 624.8% during the fourth quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company’s stock valued at $171,000 after buying an additional 1,312 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Belden by 1.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 33,877 shares of the industrial products company’s stock worth $3,815,000 after buying an additional 372 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Belden by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after buying an additional 23,936 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.