Bel Fuse (NASDAQ:BELFB) Sets New 1-Year High – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFB)’s share price reached a new 52-week high on Monday . The company traded as high as $86.76 and last traded at $86.70, with a volume of 7106 shares trading hands. The stock had previously closed at $85.51.

Wall Street Analysts Forecast Growth

BELFB has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on shares of Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a report on Monday, November 18th. StockNews.com downgraded shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Oppenheimer initiated coverage on Bel Fuse in a research note on Tuesday. They set an “outperform” rating and a $105.00 price objective on the stock. Northland Securities upped their target price on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $98.33.

Bel Fuse Stock Performance

The company has a market capitalization of $1.15 billion, a P/E ratio of 20.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00. The stock’s 50 day moving average price is $80.53 and its 200 day moving average price is $72.56.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.31%. Bel Fuse’s payout ratio is presently 6.42%.

Insider Activity

In other news, VP Joseph Francis Berry sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.30, for a total transaction of $80,300.00. Following the completion of the sale, the vice president now directly owns 8,023 shares of the company’s stock, valued at $644,246.90. This trade represents a 11.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Dawson sold 1,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $77.65, for a total transaction of $116,475.00. Following the transaction, the insider now owns 14,832 shares of the company’s stock, valued at approximately $1,151,704.80. The trade was a 9.18 % decrease in their position. The disclosure for this sale can be found here. 5.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bel Fuse

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of Bel Fuse by 10.0% in the third quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker’s stock worth $172,000 after buying an additional 200 shares in the last quarter. nVerses Capital LLC bought a new position in Bel Fuse in the 3rd quarter valued at $39,000. Comerica Bank grew its position in shares of Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 510 shares in the last quarter. Rhumbline Advisers raised its position in shares of Bel Fuse by 4.9% in the second quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 787 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Bel Fuse by 10.5% during the second quarter. Principal Financial Group Inc. now owns 8,631 shares of the electronics maker’s stock valued at $563,000 after buying an additional 823 shares during the period. Institutional investors own 58.39% of the company’s stock.

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.