StockNews.com upgraded shares of Belden (NYSE:BDC - Free Report) from a buy rating to a strong-buy rating in a report published on Saturday.
Several other brokerages also recently commented on BDC. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Belden in a research report on Friday. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $122.75.
Check Out Our Latest Analysis on BDC
Belden Trading Down 0.1 %
Shares of NYSE BDC traded down $0.10 during trading on Friday, reaching $121.02. The company had a trading volume of 176,530 shares, compared to its average volume of 184,887. The stock has a market cap of $4.88 billion, a P/E ratio of 28.14 and a beta of 1.09. The company's fifty day moving average price is $118.42 and its 200-day moving average price is $111.58. 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 has a 12 month low of $72.91 and a 12 month high of $131.82.
Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.78 EPS. As a group, research analysts expect that Belden will post 6.12 earnings per share for the current year.
Belden Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden's payout ratio is currently 4.65%.
Insiders Place Their Bets
In other news, CAO Doug Zink sold 3,000 shares of the company'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 transaction, the chief accounting officer now directly owns 6,643 shares of the company's stock, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.59% of the company's stock.
Institutional Trading of Belden
A number of large investors have recently added to or reduced their stakes in BDC. Los Angeles Capital Management LLC bought a new position in Belden during the third quarter worth about $608,000. GSA Capital Partners LLP bought a new position in shares of Belden in the third quarter worth $687,000. Citigroup Inc. grew its position in shares of Belden by 157.5% in the third quarter. Citigroup Inc. now owns 32,453 shares of the industrial products company's stock valued at $3,801,000 after purchasing an additional 19,849 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Belden by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock valued at $112,580,000 after purchasing an additional 5,727 shares during the period. Finally, Foster & Motley Inc. lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.
About Belden
(
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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.
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