Bank of New York Mellon Corp boosted its holdings in Bel Fuse, Inc. (NASDAQ:BELFB) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,946 shares of the electronics maker’s stock after acquiring an additional 2,678 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bel Fuse were worth $2,945,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its stake in Bel Fuse by 1.1% in the 1st quarter. BlackRock Inc. now owns 1,333,712 shares of the electronics maker’s stock worth $25,207,000 after acquiring an additional 14,876 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Bel Fuse by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 814,107 shares of the electronics maker’s stock worth $15,387,000 after acquiring an additional 17,082 shares during the last quarter. Millennium Management LLC increased its stake in Bel Fuse by 21.7% in the 1st quarter. Millennium Management LLC now owns 87,300 shares of the electronics maker’s stock worth $1,650,000 after acquiring an additional 15,560 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Bel Fuse by 17.4% in the 1st quarter. California Public Employees Retirement System now owns 26,648 shares of the electronics maker’s stock worth $504,000 after acquiring an additional 3,948 shares during the last quarter. Institutional investors and hedge funds own 61.68% of the company’s stock.
Shares of NASDAQ BELFB opened at $24.44 on Monday. The stock has a market capitalization of $318.29 million, a price-to-earnings ratio of 30.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.80 and a current ratio of 2.90. Bel Fuse, Inc. has a twelve month low of $17.10 and a twelve month high of $33.45.
Bel Fuse (NASDAQ:BELFB) last announced its earnings results on Thursday, August 2nd. The electronics maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.32. The business had revenue of $140.71 million for the quarter. Bel Fuse had a positive return on equity of 6.31% and a negative net margin of 2.06%.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%.
A number of equities analysts have weighed in on the company. BidaskClub upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. Needham & Company LLC upgraded Bel Fuse from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, September 25th. Finally, ValuEngine upgraded Bel Fuse from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd.
About Bel Fuse
Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, and consumer electronic industries in North America, Asia, and Europe. It offers magnetic products, such as integrated connector modules; power transformers; SMD power inductors and SMPS transformers; and telecom discrete components.
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