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

Belden Inc. (NYSE:BDC) announced a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.05 per share by the industrial products company on Tuesday, July 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, June 13th.

Belden has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Belden to earn $7.47 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 2.7%.

Belden Stock Performance

Belden stock traded up $1.12 during mid-day trading on Friday, reaching $97.63. 229,409 shares of the company’s stock were exchanged, compared to its average volume of 263,666. The business’s fifty day simple moving average is $88.90 and its 200 day simple moving average is $80.41. The firm has a market capitalization of $3.97 billion, a PE ratio of 18.88 and a beta of 1.07. Belden has a one year low of $60.54 and a one year high of $99.13. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The business had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts expect that Belden will post 5.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. Truist Financial boosted their price objective on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Loop Capital lifted their target price 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.40.

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.