Belden (NYSE:BDC) PT Raised to $101.00

Belden (NYSE:BDC) had its price objective hoisted by analysts at Truist Financial from $98.00 to $101.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 14.47% from the company’s current price.

Separately, StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Belden currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

Belden Stock Down 0.8 %

BDC opened at $88.23 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.72 and a current ratio of 2.55. Belden has a fifty-two week low of $60.54 and a fifty-two week high of $99.13. The firm’s fifty day moving average is $87.12 and its 200 day moving average is $78.22. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $514.27 million. During the same quarter in the previous year, the company earned $1.68 EPS. Belden’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, sell-side analysts forecast that Belden will post 5.33 earnings per share for the current fiscal year.

Insider Transactions at Belden

In other news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the sale, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of large investors have recently made changes to their positions in BDC. FMR LLC boosted its stake in shares of Belden by 1,365.5% during the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after purchasing an additional 956,136 shares during the period. Norges Bank purchased a new position in shares of Belden during the 4th quarter worth about $35,403,000. Pzena Investment Management LLC boosted its stake in shares of Belden by 32.5% during the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after purchasing an additional 224,486 shares during the period. Channing Capital Management LLC boosted its stake in shares of Belden by 29.4% during the 4th quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after purchasing an additional 209,052 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the period. 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.