Zacks Investment Research lowered shares of Belden Inc (NYSE:BDC) from a buy rating to a hold rating in a report issued on Monday, November 6th.
According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “
Several other equities research analysts also recently commented on BDC. Guggenheim reissued a buy rating and issued a $90.00 target price on shares of Belden in a report on Monday, September 25th. Canaccord Genuity reaffirmed a buy rating and set a $83.00 price target on shares of Belden in a report on Friday, August 4th. Deutsche Bank AG upped their price target on Belden from $85.00 to $92.00 and gave the company a buy rating in a report on Thursday, August 3rd. BidaskClub downgraded Belden from a hold rating to a sell rating in a report on Tuesday, August 1st. Finally, TheStreet downgraded Belden from a b rating to a c+ rating in a report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Belden presently has a consensus rating of Buy and a consensus target price of $86.63.
Shares of Belden (NYSE:BDC) opened at $83.62 on Monday. The firm has a market capitalization of $3,526.59, a price-to-earnings ratio of 16.33 and a beta of 2.26. Belden has a 12 month low of $64.60 and a 12 month high of $86.31. The company has a quick ratio of 1.79, a current ratio of 2.26 and a debt-to-equity ratio of 1.06.
Belden (NYSE:BDC) last released its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The business had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts predict that Belden will post 5.52 EPS for the current year.
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In related news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now owns 4,967 shares in the company, valued at $391,945.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,230 shares of company stock valued at $1,775,189. Company insiders own 1.31% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in Belden by 3.6% during the third quarter. Janus Henderson Group PLC now owns 5,072,653 shares of the industrial products company’s stock valued at $408,501,000 after buying an additional 174,365 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Belden by 0.7% in the 2nd quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock valued at $324,082,000 after purchasing an additional 31,973 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Belden by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock valued at $269,145,000 after purchasing an additional 14,086 shares during the last quarter. Boston Partners lifted its stake in shares of Belden by 231.9% in the 3rd quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock valued at $182,347,000 after purchasing an additional 1,582,031 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Belden by 1.7% in the 2nd quarter. State Street Corp now owns 1,393,807 shares of the industrial products company’s stock valued at $105,133,000 after purchasing an additional 22,944 shares during the last quarter.
Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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