Belden (NYSE:BDC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Belden (NYSE:BDC - Free Report) from a buy rating to a strong-buy rating in a report released on Monday morning.

Several other equities research analysts have also issued reports on BDC. Benchmark reiterated a "buy" rating and issued a $130.00 price target on shares of Belden in a research note on Friday, January 24th. Truist Financial lifted their price target on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $130.25.

Belden Trading Up 1.6 %

BDC traded up $1.82 during mid-day trading on Monday, hitting $114.46. The stock had a trading volume of 205,295 shares, compared to its average volume of 250,679. The stock's fifty day simple moving average is $116.47 and its 200-day simple moving average is $113.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 23.80 and a beta of 1.08. Belden has a 1-year low of $78.64 and a 1-year high of $131.82.

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Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, research analysts forecast that Belden will post 7.76 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden's payout ratio is 4.16%.

Insider Buying and Selling

In other Belden news, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the sale, the senior vice president now owns 23,243 shares of the company's stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.59% of the stock is currently owned by insiders.

Institutional Trading of Belden

Institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in Belden in the 3rd quarter valued at about $608,000. GSA Capital Partners LLP bought a new stake in Belden in the 3rd quarter valued at about $687,000. Citigroup Inc. boosted 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 purchasing an additional 19,849 shares during the period. Geode Capital Management LLC boosted its holdings 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 valued at $112,580,000 after purchasing an additional 5,727 shares during the period. Finally, Foster & Motley Inc. boosted its holdings in Belden by 25.3% in the 3rd quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company's stock valued at $4,530,000 after purchasing an additional 7,819 shares during the period. 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.