Belden (NYSE:BDC) Rating Reiterated by Truist Financial

Belden (NYSE:BDC)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a report issued on Friday, Benzinga reports. They currently have a $119.00 price objective on the industrial products company’s stock, up from their previous price objective of $101.00. Truist Financial’s price objective points to a potential upside of 25.65% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. StockNews.com downgraded Belden from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Loop Capital upped their price objective on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Belden in a research note on Monday, May 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Belden has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Belden Price Performance

Shares of BDC opened at $94.71 on Friday. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 18.53 and a beta of 1.09. The stock has a 50 day moving average of $90.58 and a 200-day moving average of $83.58.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. The firm had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share. As a group, analysts forecast that Belden will post 5.77 EPS for the current year.

Insider Activity

In other Belden news, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the sale, the director now directly owns 53,396 shares in the company, valued at approximately $5,189,557.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Belden news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the transaction, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the completion of the sale, the director now directly owns 12,097 shares in the company, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,400 shares of company stock valued at $911,900. Company insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Belden

Several large investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in Belden during the first quarter valued at approximately $32,000. Whittier Trust Co. lifted its position in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 298 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Belden in the 4th quarter worth $72,000. Finally, TFO Wealth Partners LLC raised its position in shares of Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,005 shares during the period. Institutional investors own 98.75% of the company’s stock.

Belden Company Profile

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.