Belden (NYSE:BDC) Earns “Buy” Rating from Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating restated by analysts at Benchmark in a report issued on Monday, Benzinga reports. They currently have a $100.00 price objective on the industrial products company’s stock. Benchmark’s target price suggests a potential upside of 13.34% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Truist Financial lifted their price objective on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.40.

Belden Stock Down 0.8 %

Shares of NYSE:BDC opened at $88.23 on Monday. The firm has a market capitalization of $3.59 billion, a PE ratio of 17.27 and a beta of 1.07. The business has a 50 day simple moving average of $87.12 and a two-hundred day simple moving average of $78.25. Belden has a 1 year low of $60.54 and a 1 year high of $99.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83.

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

Insider Buying and Selling at Belden

In other news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Belden by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after buying an additional 92,544 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Belden by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,383,742 shares of the industrial products company’s stock worth $128,148,000 after acquiring an additional 30,268 shares during the period. FMR LLC raised its holdings in shares of Belden by 1,365.5% during the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after purchasing an additional 956,136 shares during the last quarter. Wellington Management Group LLP lifted its position in Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after purchasing an additional 149,263 shares during the period. Finally, Channing Capital Management LLC grew its position in Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after purchasing an additional 209,052 shares during the period. 98.75% of the stock is currently 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.