ValuEngine upgraded shares of Belden (NYSE:BDC) from a sell rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

Other research analysts have also issued research reports about the company. Longbow Research raised Belden from a neutral rating to a buy rating in a report on Friday, January 3rd. Zacks Investment Research raised Belden from a strong sell rating to a buy rating and set a $60.00 target price on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Belden has an average rating of Buy and an average target price of $60.85.

BDC stock traded up $0.57 on Wednesday, reaching $55.34. 3,047 shares of the company’s stock were exchanged, compared to its average volume of 182,013. The stock has a fifty day moving average of $54.41 and a 200-day moving average of $52.10. Belden has a twelve month low of $41.50 and a twelve month high of $64.33. The firm has a market cap of $2.53 billion, a PE ratio of 9.15 and a beta of 2.37. The company has a quick ratio of 1.44, a current ratio of 1.94 and a debt-to-equity ratio of 1.29.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.23). Belden had a positive return on equity of 18.09% and a negative net margin of 7.44%. The business had revenue of $620.32 million for the quarter, compared to analyst estimates of $632.68 million. During the same period in the prior year, the company earned $1.72 EPS. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts predict that Belden will post 4.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Thursday, December 19th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Wednesday, December 18th. Belden’s payout ratio is currently 3.30%.

In related news, insider Biddle Neil acquired 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $0.10 per share, with a total value of $30,000.00. 1.52% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of BDC. First Trust Advisors LP boosted its stake in shares of Belden by 195.4% during the first quarter. First Trust Advisors LP now owns 41,284 shares of the industrial products company’s stock valued at $2,217,000 after acquiring an additional 27,308 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Belden by 46.5% in the 2nd quarter. Prudential Financial Inc. now owns 37,905 shares of the industrial products company’s stock worth $2,258,000 after purchasing an additional 12,023 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Belden by 1,386.3% in the 2nd quarter. Renaissance Technologies LLC now owns 261,593 shares of the industrial products company’s stock worth $15,583,000 after purchasing an additional 243,993 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Belden by 10.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 152,077 shares of the industrial products company’s stock worth $9,059,000 after purchasing an additional 14,789 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Belden in the 2nd quarter worth about $30,000.

Belden Company Profile

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Analyst Recommendations for Belden (NYSE:BDC)

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