Short Interest in Belden Inc. (NYSE:BDC) Declines By 10.0%

Belden Inc. (NYSE:BDC) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 899,600 shares, a drop of 10.0% from the September 30th total of 1,000,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 277,400 shares, the short-interest ratio is presently 3.2 days.

Belden Stock Down 3.1 %

NYSE BDC traded down $3.66 during trading on Thursday, reaching $114.03. 500,001 shares of the company’s stock were exchanged, compared to its average volume of 272,075. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden has a fifty-two week low of $60.54 and a fifty-two week high of $123.03. The company’s fifty day simple moving average is $112.04 and its 200-day simple moving average is $99.75. The firm has a market capitalization of $4.65 billion, a PE ratio of 24.26 and a beta of 1.07.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. During the same quarter in the prior year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. Sell-side analysts predict that Belden will post 6.04 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden’s payout ratio is 4.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BDC shares. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Truist Financial upped their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Benchmark boosted their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $112.00.

Insiders Place Their Bets

In other news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock valued at $1,020,715 in the last quarter. Insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of Belden during the 3rd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Belden in the second quarter worth approximately $28,000. Whittier Trust Co. increased its stake in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 298 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Belden during the 2nd quarter valued at $95,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.