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

Belden Inc. (NYSE:BDC) announced a quarterly dividend on Thursday, August 22nd, Wall Street Journal reports. Stockholders of record on Thursday, September 12th will be given a dividend of 0.05 per share by the industrial products company on Tuesday, October 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 12th.

Belden has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of BDC traded down $0.70 during midday trading on Wednesday, reaching $98.49. 2,961 shares of the stock were exchanged, compared to its average volume of 267,044. The business’s 50-day moving average price is $97.92 and its 200 day moving average price is $93.05. 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 twelve month low of $60.54 and a twelve month high of $108.64. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 19.43 and a beta of 1.07.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. On average, sell-side analysts expect that Belden will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the sale, the executive vice president now directly owns 21,031 shares in the company, valued at approximately $1,919,289.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 1,262 shares of Belden stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares of the company’s stock, valued at $3,812,074.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,137 shares of company stock valued at $1,095,457. 1.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BDC. Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target on the stock. Benchmark raised their price target on Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Truist Financial raised their price target on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Loop Capital raised their price target on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, StockNews.com raised Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

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.