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

Belden Inc. (NYSE:BDCGet Rating) announced a quarterly dividend on Thursday, May 26th, Wall Street Journal reports. Investors of record on Thursday, June 16th will be paid a dividend of 0.05 per share by the industrial products company on Thursday, July 7th. This represents a $0.20 annualized dividend and a yield of 0.36%. The ex-dividend date is Wednesday, June 15th.

Belden has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Belden to earn $5.56 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 3.6%.

Belden stock traded up $1.11 during mid-day trading on Thursday, hitting $55.72. 142,024 shares of the company’s stock were exchanged, compared to its average volume of 297,691. The firm has a market capitalization of $2.47 billion, a P/E ratio of 35.72 and a beta of 1.33. Belden has a fifty-two week low of $45.31 and a fifty-two week high of $68.87. The company has a quick ratio of 1.71, a current ratio of 2.39 and a debt-to-equity ratio of 1.28. The company’s 50 day simple moving average is $53.75 and its 200-day simple moving average is $58.12.

Belden (NYSE:BDCGet Rating) last released its earnings results on Wednesday, May 4th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.22. The firm had revenue of $610.40 million during the quarter, compared to analysts’ expectations of $572.62 million. Belden had a return on equity of 25.14% and a net margin of 2.86%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Research analysts expect that Belden will post 5.65 EPS for the current year.

BDC has been the subject of several analyst reports. Canaccord Genuity Group raised their price objective on Belden from $82.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, May 5th. Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. The Goldman Sachs Group upgraded Belden from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $55.00 in a report on Tuesday, April 19th. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 21st. Finally, Truist Financial reduced their price target on Belden from $86.00 to $65.00 and set a “buy” rating for the company in a report on Friday, April 8th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Belden currently has a consensus rating of “Buy” and an average target price of $72.20.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC acquired a new stake in shares of Belden in the 3rd quarter worth about $217,000. Janus Henderson Group PLC acquired a new stake in shares of Belden in the 3rd quarter worth about $263,000. Goldman Sachs Group Inc. raised its holdings in shares of Belden by 65.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 281,904 shares of the industrial products company’s stock worth $18,530,000 after acquiring an additional 111,078 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Belden by 4.4% in the 4th quarter. Credit Suisse AG now owns 44,103 shares of the industrial products company’s stock worth $2,899,000 after acquiring an additional 1,862 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new stake in Belden in the 4th quarter worth about $478,000. Hedge funds and other institutional investors own 99.58% of the company’s stock.

About Belden (Get Rating)

Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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Dividend History for Belden (NYSE:BDC)

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