Belden Inc. (NYSE:BDC – Get Rating) announced a quarterly dividend on Friday, August 26th, Wall Street Journal reports. Stockholders of record on Thursday, September 15th will be paid a dividend of 0.05 per share by the industrial products company on Thursday, October 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Wednesday, September 14th.
Belden has a payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Belden to earn $6.10 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 3.3%.
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Belden Stock Performance
NYSE:BDC opened at $67.24 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 1.08. Belden has a twelve month low of $47.89 and a twelve month high of $70.97. The stock has a market cap of $2.93 billion, a P/E ratio of 35.39 and a beta of 1.33. The firm's fifty day simple moving average is $64.14 and its 200 day simple moving average is $57.76.
Belden (NYSE:BDC – Get Rating) last announced its earnings results on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.17. Belden had a net
margin of 3.37% and a return on equity of 25.73%. The firm had revenue of $666.60 million for the quarter, compared to analyst estimates of $633.68 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, research analysts predict that Belden will post 6.04 EPS for the current year.
Insider Buying and Selling
In other news, EVP Ashish Chand acquired 9,949 shares of the firm's stock in a transaction that occurred on Friday, June 17th. The stock was bought at an average cost of $50.36 per share, for a total transaction of $501,031.64. Following the acquisition, the executive vice president now directly owns 55,772 shares in the company, valued at $2,808,677.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $66.90, for a total value of $66,900.00. Following the completion of the sale, the director now directly owns 15,053 shares in the company, valued at $1,007,045.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ashish Chand acquired 9,949 shares of the firm's stock in a transaction dated Friday, June 17th. The shares were bought at an average cost of $50.36 per share, with a total value of $501,031.64. Following the completion of the acquisition, the executive vice president now directly owns 55,772 shares of the company's stock, valued at $2,808,677.92. The disclosure for this purchase can be found here. Insiders have sold a total of 19,424 shares of company stock worth $1,294,844 in the last quarter. Corporate insiders own 1.06% of the company's stock.
Institutional Investors Weigh In On Belden
A number of large investors have recently added to or reduced their stakes in BDC. Point72 Hong Kong Ltd boosted its stake in shares of Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company's stock worth $29,000 after buying an additional 241 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Belden by 95.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,560 shares of the industrial products company's stock worth $83,000 after purchasing an additional 762 shares during the period. Atlas Capital Advisors LLC boosted its holdings in shares of Belden by 39.0% in the second quarter. Atlas Capital Advisors LLC now owns 2,472 shares of the industrial products company's stock worth $132,000 after buying an additional 694 shares during the last quarter. Verition Fund Management LLC bought a new stake in Belden during the first quarter valued at approximately $249,000. Finally, Guggenheim Capital LLC increased its holdings in Belden by 8.2% during the first quarter. Guggenheim Capital LLC now owns 7,862 shares of the industrial products company's stock valued at $435,000 after buying an additional 595 shares during the last quarter. Institutional investors own 99.88% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. TheStreet raised Belden from a "c+" rating to a "b-" rating in a research note on Thursday, May 26th. Truist Financial lifted their price target on shares of Belden from $67.00 to $77.00 in a research report on Thursday, August 4th. Finally, The Goldman Sachs Group raised their target price on shares of Belden from $59.00 to $67.00 and gave the company a "neutral" rating in a research note on Thursday, August 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $78.50.
About Belden
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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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