Wasatch Advisors LP raised its position in Bel Fuse Inc. (NASDAQ:BELFB – Free Report) by 16.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 478,709 shares of the electronics maker’s stock after acquiring an additional 68,222 shares during the period. Wasatch Advisors LP’s holdings in Bel Fuse were worth $94,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Bel Fuse by 277.3% during the 1st quarter. SG Americas Securities LLC now owns 17,642 shares of the electronics maker’s stock valued at $3,493,000 after buying an additional 12,966 shares during the last quarter. Evolve Private Wealth LLC increased its holdings in Bel Fuse by 10.6% in the 1st quarter. Evolve Private Wealth LLC now owns 4,095 shares of the electronics maker’s stock worth $811,000 after acquiring an additional 392 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in Bel Fuse in the 1st quarter worth about $286,000. T. Rowe Price Investment Management Inc. raised its stake in Bel Fuse by 45.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock valued at $88,039,000 after acquiring an additional 161,736 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in Bel Fuse by 28.8% in the 4th quarter. Voloridge Investment Management LLC now owns 40,583 shares of the electronics maker’s stock valued at $6,884,000 after acquiring an additional 9,085 shares during the period. Hedge funds and other institutional investors own 58.39% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on BELFB. JPMorgan Chase & Co. began coverage on shares of Bel Fuse in a research report on Wednesday, June 10th. They set an “overweight” rating and a $370.00 target price for the company. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. Northland Securities set a $321.00 price objective on shares of Bel Fuse in a report on Monday, May 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Bel Fuse currently has an average rating of “Moderate Buy” and a consensus target price of $319.80.
Bel Fuse Trading Up 0.1%
Bel Fuse stock opened at $310.64 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. Bel Fuse Inc. has a fifty-two week low of $92.30 and a fifty-two week high of $314.65. The stock has a market cap of $3.95 billion, a P/E ratio of 70.76, a PEG ratio of 3.05 and a beta of 1.70. The firm’s fifty day moving average price is $277.28 and its 200-day moving average price is $229.08.
Bel Fuse Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Bel Fuse’s dividend payout ratio is currently 6.38%.
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.
Featured Articles
- Five stocks we like better than Bel Fuse
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Want to see what other hedge funds are holding BELFB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bel Fuse Inc. (NASDAQ:BELFB – Free Report).
Receive News & Ratings for Bel Fuse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bel Fuse and related companies with MarketBeat.com's FREE daily email newsletter.
