Bel Fuse (NASDAQ:BELFB) Reaches New 12-Month High – Here’s What Happened

Shares of Bel Fuse Inc. (NASDAQ:BELFB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $263.30 and last traded at $262.68, with a volume of 152375 shares traded. The stock had previously closed at $257.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research downgraded Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Weiss Ratings downgraded Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Northland Securities set a $266.00 price objective on Bel Fuse in a research report on Thursday, February 19th. Finally, Needham & Company LLC increased their price objective on Bel Fuse from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.50.

Bel Fuse Price Performance

The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.33 billion, a P/E ratio of 53.50, a P/E/G ratio of 2.62 and a beta of 1.56. The business’s fifty day moving average price is $220.41 and its 200-day moving average price is $188.53.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, April 15th. Bel Fuse’s payout ratio is currently 5.70%.

Insiders Place Their Bets

In other news, Director Peter E. Gilbert sold 4,500 shares of Bel Fuse stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director directly owned 15,047 shares of the company’s stock, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of Bel Fuse stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. The disclosure for this sale is available in the SEC filing. Insiders own 5.37% of the company’s stock.

Institutional Trading of Bel Fuse

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 117 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Bel Fuse in the 4th quarter worth $33,000. Jones Financial Companies Lllp raised its position in Bel Fuse by 139.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 151 shares during the period. Federated Hermes Inc. raised its position in Bel Fuse by 52.5% in the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 115 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Bel Fuse in the 4th quarter worth $83,000. 58.39% of the stock is owned by institutional investors.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.