Belden Inc. (NYSE:BDC) Sees Significant Drop in Short Interest

Belden Inc. (NYSE:BDC - Get Free Report) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 871,500 shares, a decline of 5.4% from the November 15th total of 920,800 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 260,900 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Benchmark lifted their price target on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $122.75.

Insider Transactions at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the sale, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This represents a 31.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.59% of the company's stock.

Institutional Investors Weigh In On Belden

Institutional investors have recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in shares of Belden during the third quarter worth about $25,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden during the 3rd quarter valued at approximately $33,000. First Horizon Advisors Inc. increased its holdings in Belden by 97.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock worth $50,000 after purchasing an additional 209 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Belden during the 2nd quarter worth approximately $95,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Trading Down 3.8 %

NYSE BDC traded down $4.67 during trading hours on Tuesday, hitting $118.83. 289,713 shares of the company's stock were exchanged, compared to its average volume of 266,849. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The firm has a market capitalization of $4.79 billion, a P/E ratio of 27.63 and a beta of 1.08. The business's 50 day moving average is $120.77 and its 200-day moving average is $107.41. Belden has a 12-month low of $71.20 and a 12-month high of $131.82.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same period in the prior year, the firm posted $1.78 EPS. The company's revenue was up 4.5% on a year-over-year basis. As a group, analysts anticipate that Belden will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden's payout ratio is currently 4.65%.

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.