Belden (NYSE:BDC) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Thursday.
Other equities analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Belden from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Canaccord Genuity reiterated a “buy” rating and set a $88.00 price target on shares of Belden in a research report on Wednesday, August 22nd. Longbow Research cut shares of Belden from a “buy” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, SunTrust Banks cut shares of Belden from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Belden has an average rating of “Hold” and an average price target of $73.40.
Shares of NYSE BDC traded down $1.35 during midday trading on Thursday, hitting $54.47. 660,699 shares of the company traded hands, compared to its average volume of 624,387. Belden has a 12-month low of $50.71 and a 12-month high of $87.14. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.90 and a quick ratio of 1.38. The stock has a market capitalization of $2.28 billion, a P/E ratio of 10.18 and a beta of 2.41.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.01. Belden had a net margin of 5.83% and a return on equity of 21.28%. The company had revenue of $659.00 million for the quarter, compared to analysts’ expectations of $679.15 million. During the same quarter in the previous year, the company earned $1.49 earnings per share. Belden’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that Belden will post 6.09 earnings per share for the current year.
In other Belden news, Chairman John S. Stroup acquired 9,250 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average price of $53.44 per share, with a total value of $494,320.00. Following the completion of the purchase, 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 accessible through the SEC website. Also, SVP Henk Derksen acquired 1,431 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were acquired at an average cost of $53.65 per share, for a total transaction of $76,773.15. Following the purchase, the senior vice president now directly owns 38,857 shares of the company’s stock, valued at $2,084,678.05. The disclosure for this purchase can be found here. Insiders own 1.34% of the company’s stock.
A number of large investors have recently bought and sold shares of BDC. UBS Group AG boosted its stake in Belden by 265.2% during the first quarter. UBS Group AG now owns 4,338 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 3,150 shares in the last quarter. Legal & General Group Plc boosted its stake in Belden by 9.0% during the first quarter. Legal & General Group Plc now owns 44,133 shares of the industrial products company’s stock worth $3,042,000 after acquiring an additional 3,657 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Belden by 2.1% during the first quarter. Principal Financial Group Inc. now owns 184,830 shares of the industrial products company’s stock worth $12,743,000 after acquiring an additional 3,841 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Belden during the second quarter worth about $5,000,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Belden during the second quarter worth about $225,000.
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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