Belden (NYSE:BDC) Receives “Buy” Rating from Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a report released on Monday,Benzinga reports. They presently have a $130.00 target price on the industrial products company’s stock. Benchmark’s price objective points to a potential upside of 12.97% from the stock’s current price.

A number of other research firms also recently commented on BDC. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $122.75.

Belden Stock Performance

Shares of NYSE:BDC opened at $115.08 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.43. Belden has a 1 year low of $78.05 and a 1 year high of $131.82. The firm has a market capitalization of $4.64 billion, a PE ratio of 23.92 and a beta of 1.08. The business’s 50 day moving average price is $117.23 and its 200-day moving average price is $113.15.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, equities research analysts expect that Belden will post 7.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Belden

A number of institutional investors have recently made changes to their positions in BDC. FMR LLC boosted 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 period. State Street Corp boosted its position in shares of Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after buying an additional 100,145 shares during the period. Geode Capital Management LLC grew its stake in shares of Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after buying an additional 5,727 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Belden by 10.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company’s stock valued at $82,939,000 after buying an additional 68,151 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Belden by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock worth $21,432,000 after acquiring an additional 23,936 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

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.