Belden Inc. (NYSE:BDC - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,070,000 shares, an increase of 22.8% from the November 30th total of 871,500 shares. Based on an average daily volume of 257,600 shares, the short-interest ratio is presently 4.2 days. Currently, 2.7% of the shares of the stock are sold short.
Belden Trading Up 0.4 %
BDC traded up $0.46 during trading on Tuesday, reaching $112.61. The company had a trading volume of 303,887 shares, compared to its average volume of 268,171. The firm's 50-day simple moving average is $119.76 and its 200 day simple moving average is $108.59. 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 company has a market cap of $4.54 billion, a price-to-earnings ratio of 26.19 and a beta of 1.08. Belden has a 12-month low of $71.20 and a 12-month high of $131.82.
Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. Equities research analysts anticipate that Belden will post 6.12 earnings per share for the current year.
Belden Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. Belden's payout ratio is presently 4.65%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BDC shares. Benchmark raised their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden presently has a consensus rating of "Buy" and an average target price of $122.75.
Check Out Our Latest Stock Report on Belden
Insider Buying and Selling
In related news, CAO Doug Zink sold 1,324 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now owns 9,643 shares of the company's stock, valued at $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.59% of the stock is owned by corporate insiders.
Institutional Trading of Belden
A number of hedge funds have recently made changes to their positions in BDC. FMR LLC increased its stake in Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after buying an additional 576,768 shares during the period. Foundry Partners LLC acquired a new position in shares of Belden in the third quarter worth $11,814,000. State Street Corp raised its holdings in shares of Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock worth $184,532,000 after acquiring an additional 100,145 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Belden during the third quarter valued at $82,320,000. Finally, Lord Abbett & CO. LLC grew its stake in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after purchasing an additional 68,151 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.
Belden Company Profile
(
Get Free Report)
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.
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