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

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

Insider Activity

In related news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,318 shares of company stock worth $1,020,715. Insiders own 1.59% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Matrix Trust Co acquired a new stake in Belden during the 3rd quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in Belden during the 2nd quarter worth $28,000. Whittier Trust Co. raised its stake in 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 buying an additional 298 shares during the period. GAMMA Investing LLC raised its stake in Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Belden during the 2nd quarter worth $95,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Belden Stock Performance

BDC stock opened at $118.97 on Wednesday. The business’s fifty day moving average is $111.59 and its 200-day moving average is $99.52. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.84 billion, a P/E ratio of 23.28 and a beta of 1.07. Belden has a twelve month low of $60.54 and a twelve month high of $123.03.

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

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is currently 3.91%.

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.