Belden (NYSE:BDC) Raised to “Strong-Buy” at StockNews.com

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

Other analysts also recently issued research reports about the stock. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark raised their price objective on shares of Belden from $120.00 to $130.00 and gave the stock 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Stock Up 1.1 %

Belden stock traded up $1.30 during midday trading on Thursday, hitting $118.65. 208,256 shares of the stock were exchanged, compared to its average volume of 223,316. Belden has a 1 year low of $71.20 and a 1 year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The firm has a market cap of $4.79 billion, a P/E ratio of 27.59 and a beta of 1.09. The company has a 50 day moving average price of $118.96 and a two-hundred day moving average price of $110.20.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $643.63 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Belden will post 6.12 earnings per share for the current fiscal year.

Insider Activity at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Matrix Trust Co acquired a new stake in Belden during the third quarter worth about $25,000. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Belden during the 3rd quarter worth approximately $33,000. First Horizon Advisors Inc. boosted its position in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares during the period. Finally, KBC Group NV grew its stake in Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after buying an additional 274 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

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.