Belden Inc. (NYSE:BDC) Short Interest Down 10.0% in October

by · The Markets Daily

Belden Inc. (NYSE:BDC – Get Free Report) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 899,600 shares, a decrease 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 Buying and Selling

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Nancy E. Calderon sold 2,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now directly owns 6,954 shares in the company, valued at $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the sale, the senior vice president now 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. Insiders have sold a total of 10,318 shares of company stock worth $1,020,715 in the last quarter. 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. F M Investments LLC acquired a new stake in Belden during the 2nd quarter valued at $12,659,000. Public Employees Retirement Association of Colorado grew its stake 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 acquiring an additional 98,503 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Belden during the third quarter worth about $82,320,000. Renaissance Technologies LLC raised its holdings in Belden by 15.8% in the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after acquiring an additional 42,600 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Belden by 15.7% during the 1st quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company’s stock valued at $22,631,000 after acquiring an additional 33,160 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Trading Down 3.1 %

NYSE BDC traded down $3.66 during mid-day trading on Thursday, hitting $114.03. The company’s stock had a trading volume of 500,001 shares, compared to its average volume of 272,075. The firm has a market capitalization of $4.65 billion, a P/E ratio of 24.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. Belden has a 52-week low of $60.54 and a 52-week high of $123.03. The stock’s fifty day simple moving average is $112.04 and its two-hundred day simple moving average is $99.75.

Belden (NYSE:BDC – Get Free Report) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.91 EPS. Research analysts expect 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. Shareholders of record on Thursday, September 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio is presently 4.26%.

Analysts Set New Price Targets

Several analysts have commented on BDC shares. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price 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 objective on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $112.00.

Get Our Latest Stock Analysis on Belden

About Belden

(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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