On Thursday, investors received an email from equity research analysts at StockNews.com informing them that they will begin covering Belden (NYSE: BDC).
Investors interested in purchasing shares of the industrial products company were given the recommendation of a “strong buy” by the company.
The most recent quarterly earnings report for Belden was released on February 8, and it can be located under the ticker symbol “NYSE: BDC.” The manufacturer of industrial products reported a quarterly earnings per share figure of $1.75, which is 0.09 percentage points higher than the consensus expectation of $1.66 among industry analysts.
According to the analysts’ projections, the company’s sales for the next fiscal quarter could fall between $644.17 million and $659.07 million.
Belden had a return on equity of 26.70%, and the net margin for the company was 9.77%.
In comparison to the same quarter in the previous year, the current year saw a 7.7% increase in the company’s quarterly sales.
The company generated earnings of $1.32 per share during the same time period the year before.
According to projections made by analysts, the current fiscal year is expected to result in earnings of $6.84 per share for Belden.
When trading started on Thursday, the price of a single share of Belden stock was $81.22 per share.
The company’s market capitalization is $3.48 billion, and it has a price-to-earnings ratio of 14.13.
Additionally, its beta value is 1.32.
The stock’s moving average price over the past 200 trading days is $74.73, while the moving average price over the last 50 trading days is $83.03. Over the previous twelve months, Belden’s lowest price was $47.89, while the highest price was $92.33.
The value of the current ratio comes in at 2.40, while the value of the quick ratio comes in at 1.87, and the value of the debt-to-equity ratio comes in at 1.02.
BDC has been brought up as a topic of discussion in the context of multiple separate research projects at some point.
Benchmark upgraded Belden to a “buy” rating in a research report published on Tuesday, February 14, and increased their price objective for the company from $88.00 to $108.00.
Loop Capital raised its price objective for the company from $95.00 to $110.00 and assigned a “buy” rating to the stock for investment in a research report on Belden that was published on Thursday, February 9.
Truist Financial gave the company a “buy” rating in a research report published on Thursday, February 9.
Additionally, they simultaneously increased their price target for Belden from $93.00 to $103.00.
In addition, the report recommended “buying” shares of the company. Jefferies Financial Group announced it would begin covering Belden in a research note published on November 22 and distributed to clients on the same day.
They concluded they should keep their “hold” rating on the company and decided their price objective should be $86,000.
The Goldman Sachs Group gave the company a “neutral” rating in a public research report on Thursday, February 9, and raised its price objective for Belden from $70.00 to $80.00.
The report was published in conjunction with the company’s earnings report.
The objective price had been determined to be $70.00 in the past.
Two analysts have assigned the stock the rating of “hold,” while four analysts have assigned the rating of “buy,” and one analyst has assigned the rating of “strong buy” to the stock.
According to information from Bloomberg.com, the stock is currently rated as having a consensus opinion of “Moderate Buy,” Its price objective is $97.0.
The market determined this price objective.
In other news, on February 9, Executive Vice President Anshuman Mehrotra sold 4,360 of the company’s shares of stock as part of a transaction that day.
The transaction took place as part of that day’s activities.
At an average price of $86.99 per share, the sale of the shares resulted in total proceeds of $379,276.40 being collected.
The completion of the transaction will result in the executive vice president having direct ownership of 12,682 shares in the company.
These shares have a value of $1,103,207.18 between them. One can access a document that provides additional information on the transaction by going to the Securities and Exchange Commission (SEC) website.
Together, the company’s management and employees own 1.06% of the total shares in the company.
The recent events have caused a change in the percentage of the company owned by institutional investors and hedge funds.
The shift in ownership percentage caused this change.
The company’s fourth-quarter reporting period saw a 97.2% increase in the size of Quadrant Capital Group LLC’s holdings in Belden.
Because Quadrant Capital Group LLC completed the acquisition of 174 additional shares during the most recent quarter, the company now directly owns 353 shares of the stock issued by the industrial goods company, which have a value of $25,000.
During the first three months of 2018, Point72 Hong Kong Ltd increased the amount of Belden stock owned by 88.0 percent.
Point72 Hong Kong Ltd now holds 515 shares in the industrial goods company, having purchased an additional 241 shares during the most recent quarter for a total of 515 shares.
These shares are currently worth $29,000, which is their market value.
The USA Financial Platforms Corporation invested in Belden during the third quarter, valued at $32,000.
During the third quarter, Skandinaviska Enskilda Banken AB (publ) was able to amass a 164.7% increase in the amount of Belden stock held in its portfolio.
After making an additional purchase of 354 shares in the company that manufactures industrial products during the most recent quarter, Skandinaviska Enskilda Banken AB (publ) is now the owner of a total of 569 shares in the company.
There is a value of $34,000 associated with these shares.
To not be outdone, Ronald Blue Trust INC increased the amount of Belden stock it owns by an astounding 444.0% during the last quarter of the year. Ronald Blue Trust INC now has 631 shares held by the industrial products company after purchasing an additional 515 shares during the most recent quarter.
There is a value of $38,000 associated with these shares.
The vast majority of the company’s shares are held by institutional investors and hedge funds to the tune of 99.88%.