Belden (NYSE:BDC) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Belden (NYSE:BDC) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

Other analysts have also issued research reports about the stock. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Belden in a research report on Friday, January 24th. Truist Financial lifted their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Price Performance

Belden stock opened at $115.43 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.66 billion, a P/E ratio of 26.84 and a beta of 1.08. The company has a 50-day moving average price of $117.63 and a 200 day moving average price of $112.70. Belden has a 12-month low of $72.91 and a 12-month high of $131.82.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Thursday, December 12th. Belden’s payout ratio is 4.65%.

Insider Transactions at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This represents a 31.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock worth $525,485,000 after purchasing an additional 576,768 shares during the last quarter. Foundry Partners LLC purchased a new stake in Belden during the 3rd quarter worth about $11,814,000. State Street Corp boosted its position in shares of Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after acquiring an additional 100,145 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Belden in the 3rd quarter valued at about $82,320,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Belden by 10.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock worth $82,939,000 after acquiring an additional 68,151 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

About Belden

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.