Belden (NYSE:BDC) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Belden (NYSE:BDC) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Belden Inc is engaged in the design, manufacture and retail of cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. The Company’s products find its application in the industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden Inc is based in St. Louis, Missouri. “

Several other research analysts also recently issued reports on the stock. TheStreet downgraded shares of Belden from a b- rating to a c+ rating in a report on Friday, March 29th. ValuEngine upgraded shares of Belden from a sell rating to a hold rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Belden presently has a consensus rating of Hold and a consensus target price of $67.18.

NYSE:BDC opened at $56.37 on Tuesday. The stock’s 50-day moving average is $56.41. Belden has a 52-week low of $37.79 and a 52-week high of $76.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.40 and a current ratio of 1.97. The company has a market cap of $2.19 billion, a P/E ratio of 9.43 and a beta of 2.46.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. Belden had a net margin of 7.15% and a return on equity of 20.17%. The company had revenue of $587.18 million for the quarter, compared to the consensus estimate of $577.17 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts forecast that Belden will post 5.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.35%. Belden’s dividend payout ratio (DPR) is currently 3.30%.

Institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its position in shares of Belden by 232.3% during the 4th quarter. Citigroup Inc. now owns 5,453 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 3,812 shares in the last quarter. South Dakota Investment Council boosted its position in shares of Belden by 9.0% during the 1st quarter. South Dakota Investment Council now owns 45,900 shares of the industrial products company’s stock valued at $2,465,000 after acquiring an additional 3,800 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Belden during the 1st quarter valued at about $1,356,000. Dimensional Fund Advisors LP boosted its position in shares of Belden by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,667,711 shares of the industrial products company’s stock valued at $69,660,000 after acquiring an additional 150,151 shares in the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in shares of Belden during the 1st quarter valued at about $5,081,000.

About Belden

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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