Belden (BDC) Downgraded by TheStreet

TheStreet downgraded shares of Belden (NYSE:BDC) from a b- rating to a c+ rating in a report released on Thursday.

BDC has been the topic of a number of other reports. Guggenheim reaffirmed a buy rating and set a $77.00 price objective on shares of Belden in a research report on Wednesday, October 31st. SunTrust Banks downgraded shares of Belden from a buy rating to a hold rating and set a $56.00 price objective on the stock. in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Belden from a hold rating to a sell rating in a research report on Friday, November 2nd. Canaccord Genuity lowered their price objective on shares of Belden from $88.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, November 1st. Finally, ValuEngine downgraded shares of Belden from a sell rating to a strong sell rating in a research report on Thursday, November 1st. 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 stock. Belden presently has an average rating of Hold and a consensus price target of $73.40.

Shares of BDC opened at $54.47 on Thursday. Belden has a 52 week low of $50.71 and a 52 week high of $87.14. The company has a market cap of $2.28 billion, a P/E ratio of 10.18 and a beta of 2.41. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 1.08.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $659.00 million for the quarter, compared to the consensus estimate of $679.15 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Belden will post 6.09 EPS for the current year.

In other Belden news, SVP Henk Derksen bought 1,431 shares of Belden stock in a transaction on Friday, November 2nd. The stock was purchased at an average cost of $53.65 per share, for a total transaction of $76,773.15. Following the completion of the purchase, the senior vice president now directly owns 38,857 shares of the company’s stock, valued at $2,084,678.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John S. Stroup bought 9,250 shares of Belden stock in a transaction on Thursday, November 1st. The stock was 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 $1,160,342.72. The disclosure for this purchase can be found here. 1.34% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Belden by 0.6% in the second 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. lifted its stake in Belden by 0.8% in the third quarter. BlackRock Inc. now owns 4,564,363 shares of the industrial products company’s stock valued at $325,941,000 after acquiring an additional 35,567 shares during the last quarter. Boston Partners lifted its stake in Belden by 22.0% in the second 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 lifted its stake in Belden by 19.3% in the second 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. lifted its stake in Belden by 392.0% in the second 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.

About Belden

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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