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

Belden Inc. (NYSE:BDC - Get Free Report) was the recipient of 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. Based on an average daily volume of 277,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.2% of the company's shares are short sold.

Belden Stock Down 1.2 %

Belden stock traded down $1.39 during mid-day trading on Wednesday, hitting $117.58. The company had a trading volume of 277,718 shares, compared to its average volume of 270,990. Belden has a 12 month low of $60.54 and a 12 month high of $123.03. The company has a market capitalization of $4.80 billion, a PE ratio of 25.02 and a beta of 1.07. The stock's 50 day moving average price is $111.84 and its two-hundred day moving average price is $99.65. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate 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 net margin of 8.51% and a return on equity of 21.13%. Belden's revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. As a group, sell-side analysts anticipate that Belden will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden's dividend payout ratio (DPR) is presently 4.26%.

Wall Street Analyst Weigh In

Several analysts have commented on BDC shares. Vertical Research started coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price objective for the company. Truist Financial increased 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 stock a "buy" rating in a research note 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 price target of $112.00.

Insider Buying and Selling at Belden

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares of the company's stock, valued at $3,812,074.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction on Monday, August 5th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 1,262 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares of the company's stock, valued at $3,812,074.15. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 1.59% of the stock is currently owned by insiders.

Institutional Trading of Belden

A number of institutional investors and hedge funds have recently modified their holdings of BDC. Tidal Investments LLC increased its holdings in Belden by 198.4% in the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company's stock worth $1,138,000 after buying an additional 8,169 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Belden by 8.0% in the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company's stock worth $9,195,000 after acquiring an additional 7,340 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock valued at $9,651,000 after purchasing an additional 98,503 shares during the last quarter. AdvisorShares Investments LLC bought a new position in Belden during the second quarter valued at approximately $503,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Belden by 3.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company's stock worth $2,816,000 after purchasing an additional 980 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

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.