A number of other research analysts have also recently commented on BDC. Zacks Investment Research raised Belden from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reduced their target price on Belden from $70.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, SunTrust Banks reduced their target price on Belden to $54.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.58.
BDC traded down $0.26 during trading on Wednesday, reaching $52.09. The stock had a trading volume of 273,800 shares, compared to its average volume of 416,971. The stock has a market cap of $2.37 billion, a PE ratio of 8.60 and a beta of 2.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.89. Belden has a one year low of $37.79 and a one year high of $69.96. The business has a 50-day moving average of $48.68 and a 200-day moving average of $53.74.
In related news, SVP Leo Kulmaczewski acquired 800 shares of Belden stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $45.46 per share, with a total value of $36,368.00. Following the completion of the purchase, the senior vice president now owns 10,692 shares of the company’s stock, valued at $486,058.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in BDC. Geode Capital Management LLC grew its stake in shares of Belden by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 513,997 shares of the industrial products company’s stock valued at $21,468,000 after buying an additional 27,040 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Belden by 0.3% during the first quarter. New York State Common Retirement Fund now owns 74,189 shares of the industrial products company’s stock valued at $3,984,000 after buying an additional 233 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Belden by 315.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,472 shares of the industrial products company’s stock valued at $294,000 after buying an additional 4,154 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Belden during the first quarter valued at about $423,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Belden by 86.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 22,504 shares of the industrial products company’s stock valued at $1,208,000 after buying an additional 10,423 shares during the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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