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

Belden Inc. (NYSE:BDC - Get Free Report) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 987,100 shares, a decrease of 19.1% from the April 30th total of 1,220,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average trading volume of 295,500 shares, the days-to-cover ratio is currently 3.3 days.

Belden Stock Up 2.2%

Shares of BDC traded up $2.40 during mid-day trading on Thursday, hitting $110.47. 348,210 shares of the company's stock were exchanged, compared to its average volume of 275,223. The firm has a fifty day moving average of $102.26 and a two-hundred day moving average of $109.84. Belden has a twelve month low of $83.18 and a twelve month high of $131.82. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 22.97 and a beta of 1.23. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.12. The company had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. On average, sell-side analysts forecast that Belden will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, June 12th. Belden's dividend payout ratio (DPR) is 3.86%.

Analyst Upgrades and Downgrades

BDC has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Benchmark restated a "buy" rating and issued a $120.00 target price on shares of Belden in a research report on Monday, May 5th. Wall Street Zen cut shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Loop Capital decreased their target price on shares of Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $126.20.

Insider Buying and Selling

In other Belden news, SVP Leah Tate sold 231 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the transaction, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Belden

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Belden by 234.7% during the fourth quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock worth $25,266,000 after buying an additional 157,335 shares during the last quarter. Norges Bank bought a new stake in shares of Belden during the fourth quarter worth $54,167,000. Polen Capital Management LLC bought a new stake in shares of Belden during the fourth quarter worth $2,723,000. Lighthouse Investment Partners LLC bought a new stake in shares of Belden during the fourth quarter worth $1,126,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Belden during the fourth quarter worth $443,000. 98.75% of the stock is owned by institutional investors.

About Belden

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.