Belden (NYSE:BDC) Downgraded to "Buy" Rating by Wall Street Zen

Wall Street Zen cut shares of Belden (NYSE:BDC - Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Benchmark boosted their target price on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden presently has an average rating of "Buy" and a consensus price target of $128.20.

Belden Price Performance

Shares of BDC traded up $1.94 during trading hours on Friday, hitting $113.96. 230,017 shares of the company were exchanged, compared to its average volume of 269,799. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29. The company has a market capitalization of $4.50 billion, a PE ratio of 22.00 and a beta of 1.23. The firm has a fifty day simple moving average of $106.17 and a 200-day simple moving average of $108.66. Belden has a one year low of $83.18 and a one year high of $131.82.

Belden (NYSE:BDC - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. Belden's revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 earnings per share. As a group, sell-side analysts predict that Belden will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.18%. Belden's dividend payout ratio (DPR) is presently 3.86%.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 231 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.48% of the company's stock.

Institutional Trading of Belden

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Belden during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Belden during the 1st quarter worth approximately $35,000. Quarry LP boosted its stake in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after buying an additional 265 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after purchasing an additional 115 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Belden in the 1st quarter worth approximately $47,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.