Belden Inc. (NYSE:BDC) to Issue $0.05 Quarterly Dividend

Belden Inc. (NYSE:BDC) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Thursday, December 12th will be paid a dividend of 0.05 per share by the industrial products company on Thursday, January 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Thursday, December 12th.

Belden has a dividend payout ratio of 2.6% indicating that 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 Price Performance

NYSE BDC traded up $2.88 during trading hours on Friday, hitting $123.52. 250,650 shares of the company’s stock traded hands, compared to its average volume of 269,850. The company has a market capitalization of $4.98 billion, a PE ratio of 28.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. Belden has a 52-week low of $65.52 and a 52-week high of $131.82. The firm’s 50-day moving average is $117.44 and its 200-day moving average is $103.67.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (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 during the quarter, compared to analyst estimates of $643.63 million. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that Belden will post 6.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $122.75.

Insider Activity at Belden

In other news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the sale, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is owned by insiders.

Belden Company Profile

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.