Short Interest in Belden Inc. (NYSE:BDC) Increases By 24.4%

Belden Inc. (NYSE:BDCGet Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 880,600 shares, an increase of 24.4% from the January 15th total of 708,000 shares. Based on an average daily volume of 276,200 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in Belden by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 3,273 shares of the industrial products company’s stock worth $313,000 after buying an additional 115 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in Belden by 2.3% during the 4th quarter. Atlas Capital Advisors LLC now owns 5,346 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 121 shares during the last quarter. Howe & Rusling Inc. raised its holdings in Belden by 4.3% during the 2nd quarter. Howe & Rusling Inc. now owns 3,090 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 127 shares during the last quarter. Bessemer Group Inc. raised its holdings in Belden by 14.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,116 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 141 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Belden by 3.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 99.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BDC. The Goldman Sachs Group dropped their target price on shares of Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Truist Financial boosted their target price on shares of Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. Finally, Loop Capital lowered their price target on shares of Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Belden has an average rating of “Moderate Buy” and a consensus price target of $103.40.

View Our Latest Report on BDC

Belden Stock Up 3.1 %

Shares of NYSE:BDC opened at $85.81 on Tuesday. Belden has a 52 week low of $60.54 and a 52 week high of $99.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The company’s fifty day moving average is $75.22 and its 200-day moving average is $80.28. The company has a market capitalization of $3.58 billion, a PE ratio of 15.16 and a beta of 1.02.

Belden (NYSE:BDCGet Free Report) last issued its earnings results on Thursday, February 8th. The industrial products company reported $1.46 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 company had revenue of $551.24 million for the quarter, compared to the consensus estimate of $522.06 million. During the same quarter in the previous year, the company earned $1.75 EPS. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts predict that Belden will post 5.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Thursday, December 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.20 annualized dividend and a yield of 0.23%. Belden’s dividend payout ratio (DPR) is 3.53%.

Belden Company Profile

(Get Free Report)

Belden Inc provides portfolio of signal transmission solutions 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, and home and building automation.

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