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

Belden Inc. (NYSE:BDC) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Thursday, March 13th will be given a dividend of 0.05 per share by the industrial products company on Thursday, April 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%.

Belden has a dividend payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Belden to earn $8.38 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 2.4%.

Belden Stock Down 2.0 %

NYSE BDC traded down $2.17 during trading on Thursday, reaching $107.06. 269,815 shares of the company’s stock were exchanged, compared to its average volume of 259,961. The stock has a market cap of $4.31 billion, a P/E ratio of 22.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. The company has a 50 day moving average price of $115.01 and a two-hundred day moving average price of $114.70. Belden has a 1 year low of $80.90 and a 1 year high of $131.82.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, equities research analysts anticipate that Belden will post 7.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Loop Capital decreased their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Belden in a research report on Monday, February 10th. Finally, Truist Financial lifted their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $130.25.

Insider Transactions at Belden

In related news, CEO Ashish Chand sold 14,535 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the transaction, the chief executive officer now directly owns 107,129 shares of the company’s stock, valued at approximately $11,939,527.05. This trade represents a 11.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Leah Tate sold 2,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now directly owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,099 shares of company stock worth $1,913,702 over the last quarter. 1.59% of the stock is currently 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.