Hodges Capital Management Inc. Sells 14,915 Shares of Bel Fuse Inc. $BELFB

Hodges Capital Management Inc. trimmed its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 39.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,325 shares of the electronics maker’s stock after selling 14,915 shares during the quarter. Hodges Capital Management Inc. owned 0.18% of Bel Fuse worth $2,279,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Makaira Partners LLC purchased a new position in Bel Fuse in the 1st quarter worth about $18,415,000. Bessemer Group Inc. boosted its position in Bel Fuse by 28.3% in the 2nd quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock valued at $31,827,000 after buying an additional 71,895 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Bel Fuse in the 1st quarter worth about $4,280,000. Tema Etfs LLC increased its position in shares of Bel Fuse by 351.3% during the first quarter. Tema Etfs LLC now owns 38,417 shares of the electronics maker’s stock worth $2,876,000 after acquiring an additional 29,905 shares during the period. Finally, CenterBook Partners LP purchased a new position in shares of Bel Fuse during the first quarter worth approximately $2,229,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

NASDAQ:BELFB opened at $161.53 on Monday. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $161.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05. The company has a 50 day moving average price of $146.71 and a 200 day moving average price of $114.98. The stock has a market capitalization of $2.05 billion, a P/E ratio of 31.06, a PEG ratio of 1.86 and a beta of 1.59.

Bel Fuse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. Bel Fuse’s payout ratio is presently 5.38%.

Analyst Upgrades and Downgrades

BELFB has been the subject of a number of research reports. Oppenheimer set a $180.00 price target on Bel Fuse and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Needham & Company LLC upped their target price on Bel Fuse from $130.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wall Street Zen raised Bel Fuse from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Finally, Northland Securities set a $188.00 price objective on Bel Fuse in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $164.20.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.