Belden Inc. (BDC) to Issue Quarterly Dividend of $0.05 on October 8th

Belden Inc. (NYSE:BDC) declared a quarterly dividend on Thursday, August 22nd, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.20%. The ex-dividend date is Thursday, September 12th.

Belden has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Belden to earn $7.77 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 NYSE BDC opened at $99.46 on Tuesday. The stock has a market cap of $4.06 billion, a P/E ratio of 19.46 and a beta of 1.07. The stock has a 50 day moving average of $97.77 and a two-hundred day moving average of $92.94. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden has a twelve month low of $60.54 and a twelve month high of $108.64.

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

Insider Transactions at Belden

In other news, SVP Brian Edward Anderson sold 1,262 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the sale, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares in the company, valued at $667,444.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly 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 three months, insiders sold 12,744 shares of company stock valued at $1,251,802. Company insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BDC. Vertical Research initiated coverage on Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Benchmark lifted their price target on Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital increased their target price on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. 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. Finally, StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.