Cross Research lowered shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research report report published on Thursday morning, Marketbeat.com reports.
Several other research firms also recently weighed in on BDC. Zacks Investment Research downgraded Belden from a buy rating to a hold rating in a research report on Tuesday, October 23rd. Guggenheim reissued a buy rating and set a $90.00 target price on shares of Belden in a research report on Wednesday, August 1st. Canaccord Genuity reissued a buy rating and set a $88.00 target price on shares of Belden in a research report on Wednesday, August 22nd. TheStreet raised Belden from a c rating to a b- rating in a research report on Tuesday, August 21st. Finally, ValuEngine raised Belden from a sell rating to a hold rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Belden currently has an average rating of Hold and an average price target of $73.40.
NYSE BDC opened at $54.94 on Thursday. The company has a market cap of $2.23 billion, a PE ratio of 10.27 and a beta of 2.41. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.38 and a current ratio of 1.90. Belden has a fifty-two week low of $50.71 and a fifty-two week high of $87.14.
Belden (NYSE:BDC) last released its earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. The firm had revenue of $659.00 million for the quarter, compared to the consensus estimate of $679.15 million. Belden had a return on equity of 21.28% and a net margin of 5.83%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. On average, equities analysts expect that Belden will post 6.1 earnings per share for the current year.
In other Belden news, Chairman John S. Stroup acquired 9,250 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $53.44 per share, with a total value of $494,320.00. Following the transaction, the chairman now directly owns 21,713 shares of the company’s stock, valued at approximately $1,160,342.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.34% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in Belden by 0.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,265,955 shares of the industrial products company’s stock valued at $321,855,000 after acquiring an additional 31,690 shares during the last quarter. BlackRock Inc. grew its position in Belden by 1.3% in the 2nd quarter. BlackRock Inc. now owns 4,528,796 shares of the industrial products company’s stock valued at $276,801,000 after acquiring an additional 58,944 shares during the last quarter. Boston Partners grew its position in Belden by 22.0% in the 2nd quarter. Boston Partners now owns 3,933,211 shares of the industrial products company’s stock valued at $240,398,000 after acquiring an additional 709,076 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Belden by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,429,516 shares of the industrial products company’s stock valued at $87,372,000 after acquiring an additional 231,559 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Belden by 392.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,303,568 shares of the industrial products company’s stock valued at $79,673,000 after acquiring an additional 1,038,628 shares during the last quarter.
Belden Company Profile
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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