Belden Inc. (BDC) To Go Ex-Dividend on June 12th

Belden Inc. (NYSE:BDC) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Thursday, June 12th will be paid a dividend of 0.05 per share by the industrial products company on Wednesday, July 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Thursday, June 12th.

Belden has a dividend payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Belden to earn $8.38 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 2.4%.

Belden Stock Performance

Belden stock opened at $112.32 on Tuesday. Belden has a 12-month low of $83.18 and a 12-month high of $131.82. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 23.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The firm’s fifty day moving average price is $102.60 and its 200 day moving average price is $109.57.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The business had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. During the same period in the previous year, the business posted $1.24 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, research analysts forecast that Belden will post 7.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BDC has been the topic of a number of research reports. Wall Street Zen downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 14th. Loop Capital cut their price target on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Benchmark restated a “buy” rating and set a $120.00 price target on shares of Belden in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on shares of Belden from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $126.20.

Insiders Place Their Bets

In other news, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the transaction, the senior vice president now directly owns 30,170 shares of the company’s stock, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.48% of the company’s stock.

Hedge Funds Weigh In On Belden

A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its position in shares of Belden by 9.6% during the 1st quarter. Millennium Management LLC now owns 78,865 shares of the industrial products company’s stock worth $7,906,000 after buying an additional 6,894 shares during the period. United Services Automobile Association acquired a new stake in shares of Belden during the 1st quarter worth approximately $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Belden by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,807 shares of the industrial products company’s stock worth $13,214,000 after buying an additional 10,077 shares during the period. Jane Street Group LLC grew its position in shares of Belden by 18.3% during the 1st quarter. Jane Street Group LLC now owns 58,028 shares of the industrial products company’s stock worth $5,817,000 after buying an additional 8,961 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Belden by 273.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,984 shares of the industrial products company’s stock worth $399,000 after buying an additional 2,918 shares during the period. 98.75% of the stock is owned by institutional investors.

About Belden

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.