Belden (NYSE:BDC) Stock Rating Upgraded by StockNews.com

Belden (NYSE:BDC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Other equities analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark boosted their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Belden has an average rating of “Buy” and an average target price of $122.75.

Belden Price Performance

Shares of BDC stock traded up $1.30 during trading hours on Thursday, hitting $118.65. The company’s stock had a trading volume of 208,256 shares, compared to its average volume of 223,316. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $118.96 and a 200-day moving average of $110.20. Belden has a twelve month low of $71.20 and a twelve month high of $131.82. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 27.59 and a beta of 1.09.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. Belden’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, equities research analysts anticipate that Belden will post 6.12 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.59% of the stock is currently owned by insiders.

Institutional Trading of Belden

Institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its position in 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 buying an additional 2,757 shares in the last quarter. Matrix Trust Co raised its stake in shares of Belden by 624.8% in the 4th quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 1,312 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Belden by 1.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,877 shares of the industrial products company’s stock valued at $3,815,000 after acquiring an additional 372 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Belden by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after purchasing an additional 23,936 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after purchasing an additional 68,151 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Belden

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.