Belden (NYSE:BDC) declared a quarterly dividend on Thursday, May 24th, RTT News reports. Investors of record on Wednesday, June 20th will be given a dividend of 0.05 per share by the industrial products company on Tuesday, July 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%.
Belden has a dividend payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Belden to earn $6.71 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 3.0%.
Belden opened at $57.14 on Friday, Marketbeat.com reports. The company has a market cap of $2.32 billion, a P/E ratio of 10.68 and a beta of 2.37. Belden has a 1 year low of $53.65 and a 1 year high of $87.14. The company has a quick ratio of 1.45, a current ratio of 2.01 and a debt-to-equity ratio of 1.29.
Belden (NYSE:BDC) last released its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.06. The business had revenue of $605.57 million during the quarter, compared to analysts’ expectations of $584.55 million. Belden had a net margin of 2.87% and a return on equity of 19.45%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. research analysts expect that Belden will post 6.35 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the stock. ValuEngine cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Friday, March 30th. Finally, SunTrust Banks upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, March 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $90.83.
In related news, Director Bryan C. Cressey bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average cost of $54.31 per share, with a total value of $108,620.00. Following the completion of the purchase, the director now directly owns 123,875 shares in the company, valued at $6,727,651.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ross Rosenberg sold 779 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $75.00, for a total transaction of $58,425.00. Following the transaction, the senior vice president now directly owns 5,329 shares in the company, valued at $399,675. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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