Belden Inc. (BDC) To Go Ex-Dividend on June 13th

Belden Inc. (NYSE:BDCGet Free Report) declared a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Stockholders of record on Thursday, June 13th will be given a dividend of 0.05 per share by the industrial products company on Tuesday, July 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, June 13th.

Belden has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Belden to earn $7.47 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 2.7%.

Belden Stock Performance

BDC stock opened at $94.14 on Tuesday. The firm has a market cap of $3.83 billion, a PE ratio of 18.42 and a beta of 1.09. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average of $89.97 and a 200-day moving average of $82.84. Belden has a 12-month low of $60.54 and a 12-month high of $99.13.

Belden (NYSE:BDCGet Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.19. The company had revenue of $536.00 million during the quarter, compared to analyst estimates of $514.27 million. Belden had a return on equity of 23.11% and a net margin of 9.01%. Belden’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. As a group, sell-side analysts expect that Belden will post 5.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com lowered Belden from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Truist Financial upped their price objective on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Loop Capital upped their price objective on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of Belden in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

View Our Latest Stock Report on BDC

Insiders Place Their Bets

In other Belden news, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the sale, the director now owns 13,704 shares in the company, valued at $1,308,732. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Belden news, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the sale, the director now owns 13,704 shares in the company, valued at $1,308,732. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now owns 53,396 shares in the company, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. Company insiders own 1.59% of the company’s stock.

About Belden

(Get Free Report)

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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Dividend History for Belden (NYSE:BDC)

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