Belden (NYSE:BDC) Downgraded to Buy Rating by StockNews.com

Belden (NYSE:BDC) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Several other equities analysts have also commented on BDC. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Belden in a research report on Monday, February 10th. Loop Capital decreased their price target on Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group cut their price objective on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $128.20.

Belden Trading Up 1.4 %

Shares of BDC stock opened at $94.76 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden has a 52-week low of $80.90 and a 52-week high of $131.82. The stock has a fifty day simple moving average of $104.26 and a two-hundred day simple moving average of $113.53. The firm has a market capitalization of $3.77 billion, a PE ratio of 19.70 and a beta of 1.07.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 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, analysts predict that Belden will post 7.07 EPS for the current fiscal year.

Insider Activity at Belden

In other Belden news, Director Jonathan C. Klein sold 2,129 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total value of $234,190.00. Following the completion of the transaction, the director now directly owns 9,968 shares in the company, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashish Chand sold 14,535 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the completion of the sale, the chief executive officer now owns 107,129 shares in the company, valued at $11,939,527.05. This represents a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,428 shares of company stock worth $2,589,774 over the last three months. 1.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Belden

Several institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in Belden in the fourth quarter worth about $26,000. Quarry LP raised its position in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after buying an additional 265 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Belden during the 4th quarter valued at approximately $61,000. First Horizon Advisors Inc. increased its stake in shares of Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 211 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Belden by 31.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 199 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.