Belden (NYSE:BDC) Stock Rating Reaffirmed by Benchmark

Belden (NYSE:BDC - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Benchmark in a research note issued on Monday, Benzinga reports. They presently have a $100.00 price target on the industrial products company's stock. Benchmark's price objective would suggest a potential upside of 14.01% from the company's previous close.

A number of other research firms have also recently commented on BDC. Truist Financial boosted their target price on shares of Belden from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday. StockNews.com raised 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 six have assigned a buy rating to the company. Based on data from MarketBeat, Belden currently has a consensus rating of "Moderate Buy" and an average target price of $102.40.

Belden Price Performance

NYSE BDC traded down $0.52 during trading hours on Monday, reaching $87.71. The company's stock had a trading volume of 208,152 shares, compared to its average volume of 274,763. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.83. Belden has a 1-year low of $60.54 and a 1-year high of $99.13. The company's 50-day moving average is $87.12 and its two-hundred day moving average is $78.25. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 17.16 and a beta of 1.07.

Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the company posted $1.68 EPS. The business's quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts predict that Belden will post 5.77 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Brian Lieser sold 2,056 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.59% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Belden in the 1st quarter valued at about $32,000. Whittier Trust Co. raised 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 buying an additional 298 shares during the period. Quadrant Capital Group LLC lifted its holdings in Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 244 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Belden in the 4th quarter valued at $72,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of Belden by 33,500.0% during the 4th 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 and hedge funds 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.