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

Belden Inc. (NYSE:BDC – Get Rating) announced a quarterly dividend on Friday, May 26th, Wall Street Journal reports. Stockholders of record on Thursday, June 15th will be paid a dividend of 0.05 per share by the industrial products company on Thursday, July 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Wednesday, June 14th.

Belden has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Belden to earn $7.66 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 Stock Performance

BDC traded up $1.05 during trading hours on Friday, hitting $89.82. The stock had a trading volume of 201,541 shares, compared to its average volume of 283,493. The company’s fifty day simple moving average is $81.88 and its 200 day simple moving average is $80.80. Belden has a 1 year low of $47.89 and a 1 year high of $92.33. The stock has a market cap of $3.82 billion, a PE ratio of 14.01 and a beta of 1.31. The company has a quick ratio of 2.00, a current ratio of 2.70 and a debt-to-equity ratio of 1.04.

Belden (NYSE:BDC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. Belden had a net margin of 10.69% and a return on equity of 26.83%. The business had revenue of $641.79 million during the quarter, compared to analyst estimates of $624.46 million. During the same period in the previous year, the business earned $1.31 EPS. Belden’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Belden will post 7.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. The Goldman Sachs Group upped their price objective on Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Loop Capital upped their price objective on Belden from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. StockNews.com started coverage on Belden in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Benchmark upped their price objective on Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.80.

Insider Buying and Selling at Belden

In other news, Director Jonathan C. Klein sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $81.49, for a total value of $203,725.00. Following the completion of the sale, the director now directly owns 11,553 shares of the company’s stock, valued at approximately $941,453.97. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BDC. Putnam Investments LLC raised its holdings in Belden by 56.6% in the first quarter. Putnam Investments LLC now owns 10,508 shares of the industrial products company’s stock worth $912,000 after buying an additional 3,799 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Belden by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 328,338 shares of the industrial products company’s stock worth $28,489,000 after buying an additional 30,978 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Belden in the first quarter worth about $395,000. Front Street Capital Management Inc. bought a new position in shares of Belden during the first quarter valued at $250,000. Finally, Atlas Capital Advisors LLC boosted its position in shares of Belden by 45.1% during the first quarter. Atlas Capital Advisors LLC now owns 7,757 shares of the industrial products company’s stock valued at $673,000 after buying an additional 2,411 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Belden Company Profile

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.