Jefferies Financial Group Begins Coverage on Belden (NYSE:BDC)

Jefferies Financial Group initiated coverage on shares of Belden (NYSE:BDCGet Rating) in a research report released on Tuesday morning, The Fly reports. The firm issued a hold rating and a $86.00 price objective on the industrial products company’s stock.

BDC has been the subject of a number of other research reports. Truist Financial boosted their target price on shares of Belden from $77.00 to $82.00 in a research note on Thursday, November 3rd. The Goldman Sachs Group boosted their target price on shares of Belden from $67.00 to $76.00 and gave the stock a neutral rating in a research note on Thursday, November 3rd. Finally, StockNews.com began coverage on shares of Belden in a research note on Wednesday, October 12th. They set a strong-buy rating for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Belden has an average rating of Moderate Buy and an average target price of $83.00.

Belden Trading Down 1.2 %

Shares of Belden stock opened at $78.75 on Tuesday. The firm has a 50-day simple moving average of $68.62 and a two-hundred day simple moving average of $62.99. The company has a market cap of $3.37 billion, a P/E ratio of 24.46 and a beta of 1.32. Belden has a fifty-two week low of $47.89 and a fifty-two week high of $82.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.89 and a current ratio of 2.54.

Belden (NYSE:BDCGet Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.20. The business had revenue of $670.49 million during the quarter, compared to analysts’ expectations of $634.29 million. Belden had a net margin of 5.53% and a return on equity of 26.35%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. As a group, equities analysts predict that Belden will post 6.33 earnings per share for the current fiscal year.

Insider Activity at Belden

In related news, Director Jonathan C. Klein sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $79.82, for a total transaction of $79,820.00. Following the completion of the sale, the director now owns 14,053 shares of the company’s stock, valued at approximately $1,121,710.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.06% of the stock is owned by corporate insiders.

Institutional Trading of Belden

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Belden by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 4,398,989 shares of the industrial products company’s stock valued at $243,704,000 after acquiring an additional 48,838 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Belden by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,314,272 shares of the industrial products company’s stock valued at $123,282,000 after purchasing an additional 25,877 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Belden by 10.9% in the 1st quarter. Pzena Investment Management LLC now owns 1,867,145 shares of the industrial products company’s stock valued at $103,440,000 after purchasing an additional 183,829 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Belden by 7.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,462,493 shares of the industrial products company’s stock valued at $77,906,000 after purchasing an additional 102,396 shares during the last quarter. Finally, State Street Corp boosted its holdings in Belden by 0.9% in the 3rd quarter. State Street Corp now owns 1,447,116 shares of the industrial products company’s stock valued at $86,930,000 after purchasing an additional 12,706 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Belden Company Profile

(Get Rating)

Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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