Belden (NYSE:BDC) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research report released on Monday.

Separately, Truist Financial increased their target price on shares of Belden from $89.00 to $98.00 and gave the stock a buy rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $102.25.

Belden Trading Up 1.7 %

Shares of NYSE BDC opened at $83.33 on Monday. The company’s 50 day simple moving average is $86.89 and its 200 day simple moving average is $78.38. Belden has a fifty-two week low of $60.54 and a fifty-two week high of $99.13. The firm has a market capitalization of $3.39 billion, a P/E ratio of 14.72 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72.

Belden (NYSE:BDC) last posted its earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.34. The company had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period last year, the business posted $1.75 earnings per share. On average, analysts predict that Belden will post 5.33 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s payout ratio is 3.53%.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the firm’s 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 sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BDC. Rise Advisors LLC bought a new position in Belden in the first quarter valued at $32,000. Quadrant Capital Group LLC grew its position in Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares in the last quarter. Principal Securities Inc. bought a new position in Belden in the fourth quarter valued at $72,000. Ronald Blue Trust Inc. grew its position in Belden by 326.0% in the third quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 626 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its position in Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 1,005 shares in the last quarter. 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.