Belden (BDC) Downgraded to “C+” at TheStreet

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

Other equities research 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 note on Thursday, August 2nd. Zacks Investment Research cut shares of Belden from a buy rating to a hold rating in a research note on Tuesday, October 23rd. Canaccord Genuity restated a buy rating and set a $88.00 target price on shares of Belden in a research note on Wednesday, August 22nd. Longbow Research cut shares of Belden from a buy rating to a neutral rating in a research note on Thursday, November 1st. Finally, SunTrust Banks cut shares of Belden from a buy rating to a hold rating and set a $56.00 target price on the stock. in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $73.40.

NYSE BDC traded down $1.35 on Thursday, reaching $54.47. 660,699 shares of the stock were exchanged, compared to its average volume of 624,387. Belden has a one year low of $50.71 and a one year high of $87.14. The stock has a market cap of $2.28 billion, a price-to-earnings 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 released its earnings results on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $1.49 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that Belden will post 6.09 EPS for the current year.

In related news, SVP Henk Derksen acquired 1,431 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average cost of $53.65 per share, with a total value of $76,773.15. Following the acquisition, the senior vice president now directly owns 38,857 shares in the company, valued at approximately $2,084,678.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman John S. Stroup acquired 9,250 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were bought at an average cost of $53.44 per share, with a total value of $494,320.00. Following the completion of the acquisition, the chairman now owns 21,713 shares in the company, valued at $1,160,342.72. The disclosure for this purchase can be found here. Company insiders own 1.34% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BDC. First Hawaiian Bank purchased a new stake in Belden during the 3rd quarter valued at approximately $159,000. US Bancorp DE grew its holdings in shares of Belden by 83.0% in the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 1,192 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Belden by 14,270.0% in the second quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 2,854 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new position in shares of Belden in the second quarter valued at $210,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Belden in the second quarter valued at $225,000.

Belden Company Profile

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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