Belden (NYSE:BDC) Stock Rating Reaffirmed by Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a research report issued on Monday, Benzinga reports. They presently have a $100.00 price objective on the industrial products company’s stock. Benchmark’s price objective indicates a potential upside of 10.61% from the company’s previous close.

BDC has been the topic of several other reports. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Truist Financial raised their target price on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and an average target price of $102.40.

Belden Trading Up 3.0 %

Belden stock opened at $90.41 on Monday. 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 has a one year low of $60.54 and a one year high of $99.13. The stock has a market capitalization of $3.68 billion, a PE ratio of 17.69 and a beta of 1.07. The business’s fifty day moving average is $87.30 and its 200 day moving average is $78.49.

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

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.59% of the stock is owned by corporate insiders.

Institutional Trading of Belden

A number of large investors have recently added to or reduced their stakes in BDC. Rise Advisors LLC bought a new stake in Belden in the 1st quarter worth approximately $32,000. Whittier Trust Co. increased its stake in Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Belden in the 4th quarter worth approximately $72,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Belden by 33,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,005 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.