Belden Inc. (NYSE:BDC) Short Interest Update

Belden Inc. (NYSE:BDC) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 871,500 shares, a decrease of 5.4% from the November 15th total of 920,800 shares. Based on an average daily volume of 260,900 shares, the short-interest ratio is presently 3.3 days. Currently, 2.2% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, CAO Doug Zink sold 1,324 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the transaction, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

Institutional Trading of Belden

A number of hedge funds have recently made changes to their positions in BDC. FMR LLC raised its holdings 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 last quarter. F M Investments LLC acquired a new position in Belden in the 2nd quarter valued at approximately $12,659,000. Foundry Partners LLC bought a new position in shares of Belden during the third quarter valued at $11,814,000. State Street Corp lifted 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 purchasing an additional 100,145 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Belden in the third quarter worth $82,320,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BDC has been the subject of several analyst reports. Benchmark boosted their target price 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 upped their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden currently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Stock Down 4.3 %

BDC stock opened at $113.79 on Thursday. The firm has a 50-day moving average price of $120.68 and a 200-day moving average price of $107.45. Belden has a 12 month low of $71.20 and a 12 month high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $4.59 billion, a P/E ratio of 26.46 and a beta of 1.08.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, equities research analysts anticipate that Belden will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend 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%.

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.