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

Belden Inc (NYSE:BDC) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday.

Several other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Belden from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 price target (up previously from $83.00) on shares of Belden in a research note on Wednesday, September 13th. Deutsche Bank AG lifted their price target on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Belden presently has an average rating of “Buy” and a consensus target price of $85.88.

Belden (NYSE:BDC) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The business had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year.

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In other Belden news, SVP Paul Keith Turner sold 3,709 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were 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 of the company’s stock, valued at approximately $391,945.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John S. Stroup sold 17,227 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,230 shares of company stock valued at $1,775,189. 1.31% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new position in shares of Belden in the 2nd quarter valued at about $369,478,000. BlackRock Inc. boosted its holdings in shares of Belden by 22,743.7% in the 1st quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock valued at $295,057,000 after buying an additional 4,245,792 shares during the period. Boston Partners boosted its holdings in shares of Belden by 231.9% in the 3rd quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock valued at $182,347,000 after buying an additional 1,582,031 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Belden by 223.2% in the 2nd quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock valued at $35,816,000 after buying an additional 327,914 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Belden in the 2nd quarter valued at about $23,082,000.

About Belden

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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