StockNews.com Downgrades Belden (NYSE:BDC) to Buy

Belden (NYSE:BDC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

BDC has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Belden in a research report on Friday, January 24th. Truist Financial raised their price objective on shares of 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, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Stock Down 2.6 %

Shares of NYSE:BDC opened at $113.41 on Friday. The firm has a fifty day moving average price of $117.80 and a two-hundred day moving average price of $112.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. Belden has a one year low of $72.91 and a one year high of $131.82. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 26.37 and a beta of 1.08.

Insider Buying and Selling at Belden

In related news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Belden

Several institutional investors have recently bought and sold shares of BDC. FMR LLC increased its position in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the period. State Street Corp increased its position in Belden by 6.8% during the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock valued at $184,532,000 after purchasing an additional 100,145 shares during the period. Geode Capital Management LLC increased its position in Belden by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock valued at $112,580,000 after purchasing an additional 5,727 shares during the period. Lord Abbett & CO. LLC increased its position in Belden by 10.6% during 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 purchasing an additional 68,151 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Belden by 15.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,973 shares of the industrial products company’s stock valued at $21,432,000 after purchasing an additional 23,936 shares during the period. Institutional investors own 98.75% of the company’s stock.

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.