Belden (NYSE:BDC) Stock Price Expected to Rise, Truist Financial Analyst Says
by Jessica Moore · The Cerbat GemBelden (NYSE:BDC – Get Free Report) had its target price upped by investment analysts at Truist Financial from $124.00 to $136.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 18.01% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Benchmark raised their price target on shares of Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $116.40.
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Belden Stock Up 1.2 %
BDC stock opened at $115.24 on Friday. Belden has a twelve month low of $60.54 and a twelve month high of $123.03. The company has a market cap of $4.70 billion, a PE ratio of 26.80 and a beta of 1.07. The business’s 50-day simple moving average is $112.21 and its 200 day simple moving average is $99.96. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.
Belden (NYSE:BDC – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.10. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. On average, research analysts anticipate that Belden will post 6.04 earnings per share for the current year.
Insider Activity
In other news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares in the company, valued at approximately $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,318 shares of company stock worth $1,020,715. Insiders own 1.59% of the company’s stock.
Institutional Trading of Belden
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Belden by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 148 shares during the last quarter. US Bancorp DE raised its position in shares of Belden by 7.4% during the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 193 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Belden by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after acquiring an additional 200 shares during the last quarter. Finally, Matrix Trust Co bought a new stake in shares of Belden during the 3rd quarter valued at $25,000. Institutional investors and hedge funds 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.