Belden Inc. (NYSE:BDC - Get Free Report) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors 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 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. Research 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%.
NYSE BDC traded up $2.88 on Friday, hitting $123.52. The stock had a trading volume of 250,650 shares, compared to its average volume of 269,850. Belden has a 52-week low of $65.52 and a 52-week high of $131.82. The business's fifty day moving average price is $117.44 and its 200 day moving average price is $103.67. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 28.07 and a beta of 1.07.
Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The company had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same period in the prior year, the company posted $1.78 EPS. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Belden will post 6.12 earnings per share for the current year.
BDC has been the subject of a number of research analyst reports. Truist Financial raised their target price on Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $122.75.
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In related news, CAO Doug Zink sold 1,324 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,643 shares of the company's stock, valued at approximately $1,132,956.07. This represents a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.59% of the stock is owned by company insiders.
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.
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