Belden (NYSE:BDC) Downgraded by StockNews.com

StockNews.com downgraded shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Separately, Truist Financial increased their price objective on shares of Belden from $89.00 to $98.00 and gave the stock a buy rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $102.25.

Belden Stock Down 0.4 %

Shares of NYSE BDC opened at $82.89 on Monday. The firm’s 50-day moving average price is $86.86 and its 200-day moving average price is $78.37. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 14.64 and a beta of 1.04. Belden has a 12-month low of $60.54 and a 12-month high of $99.13.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The firm had revenue of $551.24 million for the quarter, compared to analysts’ expectations of $522.06 million. During the same period in the prior year, the company earned $1.75 EPS. The business’s revenue was down 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that Belden will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Belden’s payout ratio is 3.53%.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the transaction, the executive vice president now owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Belden

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of Belden during the first quarter worth $32,000. Quadrant Capital Group LLC lifted its stake in shares of Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares during the period. Principal Securities Inc. acquired a new stake in shares of Belden during the fourth quarter worth $72,000. Ronald Blue Trust Inc. lifted its stake in shares of Belden by 326.0% during the third quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock worth $78,000 after buying an additional 626 shares during the period. Finally, TFO Wealth Partners LLC lifted its stake 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 buying an additional 1,005 shares during the period. 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.