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

Belden Inc. (NYSE:BDC) declared 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 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Thursday, December 12th.

Belden has a payout ratio of 2.6% meaning 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 BDC traded up $2.77 during trading hours on Friday, reaching $123.41. 250,834 shares of the stock traded hands, compared to its average volume of 269,850. The company has a market cap of $4.98 billion, a P/E ratio of 28.07 and a beta of 1.07. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $117.44 and its two-hundred day moving average price is $103.67. Belden has a 52-week low of $65.52 and a 52-week high of $131.82.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.61 by $0.09. The business had revenue of $654.90 million for the quarter, compared to the consensus estimate of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. On average, analysts anticipate that Belden will post 6.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BDC shares. Benchmark lifted their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their target price 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $122.75.

Insider Activity

In other Belden news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The sale 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.