Cross Research Lowers Belden (BDC) to Hold
Belden (NYSE:BDC) was downgraded by analysts at Cross Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Belden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. TheStreet lowered shares of Belden from a “b” rating to a “c+” rating in a report on Wednesday, November 1st. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Belden in a report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and set a $88.00 price target (up previously from $83.00) on shares of Belden in a research report on Wednesday, September 13th. Finally, ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Belden currently has a consensus rating of “Buy” and an average target price of $86.63.
Shares of Belden (NYSE BDC) traded up $0.01 during mid-day trading on Friday, reaching $84.69. The company’s stock had a trading volume of 207,000 shares, compared to its average volume of 290,343. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. The company has a market capitalization of $3,639.19, a price-to-earnings ratio of 16.85 and a beta of 2.26. Belden has a 52-week low of $64.60 and a 52-week high of $86.85.
In other news, SVP Paul Keith Turner sold 3,709 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John S. Stroup sold 17,227 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. In the last three months, insiders sold 21,230 shares of company stock valued at $1,775,189. Company insiders own 1.31% of the company’s stock.
A number of institutional investors have recently modified their holdings of BDC. Greenwood Capital Associates LLC grew its stake in Belden by 0.5% during the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 14 shares during the period. Teacher Retirement System of Texas grew its position in Belden by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 15 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Belden by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,263 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 19 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Belden by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 25 shares during the last quarter. Finally, HM Capital Management LLC lifted its stake in Belden by 1.0% in the third quarter. HM Capital Management LLC now owns 3,555 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 34 shares during the last quarter.
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Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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