Belden Inc. (NYSE:BDC) Sees Large Increase in Short Interest

Belden Inc. (NYSE:BDCGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,080,000 shares, an increase of 19.8% from the February 29th total of 901,500 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 276,600 shares, the days-to-cover ratio is currently 3.9 days.

Belden Stock Performance

BDC opened at $90.78 on Tuesday. The stock’s 50 day simple moving average is $84.03 and its 200-day simple moving average is $79.33. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.73 billion, a PE ratio of 16.04 and a beta of 1.04. Belden has a 1 year low of $60.54 and a 1 year high of $99.13.

Belden (NYSE:BDCGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The firm had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. During the same quarter in the previous year, the firm posted $1.75 EPS. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. Sell-side analysts forecast that Belden will post 5.33 EPS for the current year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, March 13th. Belden’s dividend payout ratio is 3.53%.

Wall Street Analyst Weigh In

BDC has been the subject of several research analyst reports. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. Truist Financial boosted their price objective on shares of Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Read Our Latest Report on BDC

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On Belden

A number of institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new position in Belden in the 4th quarter valued at $410,000. Hennessy Advisors Inc. acquired a new stake in Belden in the 4th quarter valued at about $2,858,000. Wellington Management Group LLP lifted its position in shares of Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Belden by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 132,539 shares of the industrial products company’s stock valued at $10,240,000 after purchasing an additional 4,695 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Belden during the 4th quarter worth $236,000. 98.75% of the stock is owned by institutional investors and hedge funds.

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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