Belden Inc. Plans Quarterly Dividend of $0.05 (NYSE:BDC)

Belden Inc. (NYSE:BDC) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Thursday, December 12th will be given a dividend of 0.05 per share by the industrial products company on Thursday, January 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, December 12th.

Belden has a payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Belden to earn $7.77 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 2.6%.

Belden Price Performance

Shares of BDC stock traded up $2.77 during trading on Friday, hitting $123.41. The company had a trading volume of 250,834 shares, compared to its average volume of 269,850. The stock’s 50-day moving average is $117.44 and its two-hundred day moving average is $103.67. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 28.07 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Belden has a 52 week low of $65.52 and a 52 week high of $131.82.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BDC. Truist Financial boosted their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark upped their price target on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has a consensus rating of “Buy” and an average price target of $122.75.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.59% of the company’s stock.

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.