Benchmark Reaffirms “Buy” Rating for Belden (NYSE:BDC)

Belden (NYSE:BDC)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark in a research note issued on Monday, Marketbeat.com reports. They presently have a $130.00 price objective on the industrial products company’s stock. Benchmark’s price objective would indicate a potential upside of 15.49% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial increased their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Belden presently has an average rating of “Buy” and an average price target of $130.25.

Belden Trading Down 1.3 %

Shares of NYSE:BDC opened at $112.56 on Monday. The business’s 50-day moving average is $116.83 and its 200 day moving average is $113.44. Belden has a 1 year low of $78.64 and a 1 year high of $131.82. The firm has a market capitalization of $4.54 billion, a P/E ratio of 23.40 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Belden will post 7.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at $2,667,599.11. This represents a 9.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Belden during the third quarter worth approximately $33,000. First Horizon Advisors Inc. increased its position in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 199 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds 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.