Belden Inc. (NYSE:BDC) Short Interest Update

Belden Inc. (NYSE:BDC) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 997,400 shares, an increase of 6.8% from the August 31st total of 933,500 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily volume of 282,600 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Vertical Research began coverage on 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 raised their target price on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Benchmark upped their price target on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Belden has an average rating of “Moderate Buy” and an average price target of $112.00.

Belden Stock Performance

Shares of BDC stock traded up $1.26 during trading on Monday, reaching $117.13. 271,348 shares of the company’s stock traded hands, compared to its average volume of 274,270. The firm’s 50-day moving average is $102.40 and its 200 day moving average is $95.32. The company has a market capitalization of $4.76 billion, a P/E ratio of 22.92 and a beta of 1.07. Belden has a 1 year low of $60.54 and a 1 year high of $118.26. 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 (NYSE:BDC) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. Equities research analysts expect that Belden will post 6.04 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, September 12th. Belden’s dividend payout ratio is presently 3.91%.

Insider Activity

In related news, EVP Brian Lieser sold 819 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Belden news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $239,950.00. Following the sale, the director now owns 6,954 shares in the company, valued at $667,444.92. The disclosure for this sale can be found here. Insiders sold a total of 11,137 shares of company stock worth $1,095,457 over the last quarter. Insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of institutional investors and hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Belden during the second quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in shares of Belden during the 1st quarter valued at $32,000. Whittier Trust Co. increased its holdings in shares of Belden by 662.2% in the first 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 period. TFO Wealth Partners LLC raised its position in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after buying an additional 1,005 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Belden during the second quarter valued at $95,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

About Belden

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.