Bel Fuse (NASDAQ:BELFB) Rating Lowered to Market Perform at Northland Securities

Northland Securities cut shares of Bel Fuse (NASDAQ:BELFB) from an outperform rating to a market perform rating in a research report report published on Thursday morning, Marketbeat.com reports. They currently have $63.00 target price on the electronics maker’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reduced their price target on Bel Fuse from $70.00 to $68.00 and set a buy rating on the stock in a research note on Monday, April 29th. StockNews.com raised Bel Fuse from a hold rating to a buy rating in a report on Friday, April 26th.

Bel Fuse Price Performance

NASDAQ BELFB traded down $0.53 during trading hours on Thursday, hitting $58.04. The company had a trading volume of 89,166 shares, compared to its average volume of 86,174. The firm has a 50 day simple moving average of $57.67 and a 200 day simple moving average of $59.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.70 and a current ratio of 4.21. The firm has a market capitalization of $740.59 million, a price-to-earnings ratio of 9.77 and a beta of 1.46. Bel Fuse has a 52 week low of $39.13 and a 52 week high of $74.75.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings data on Wednesday, February 21st. The electronics maker reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). Bel Fuse had a net margin of 12.62% and a return on equity of 23.58%. The firm had revenue of $140.01 million for the quarter, compared to the consensus estimate of $152.86 million. Equities research analysts expect that Bel Fuse will post 4.39 earnings per share for the current year.

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. Bel Fuse’s dividend payout ratio (DPR) is 4.71%.

Insiders Place Their Bets

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of Bel Fuse stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the sale, the director now directly owns 7,392 shares of the company’s stock, valued at approximately $419,126.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Bel Fuse by 26.5% during the third quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 212 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Bel Fuse in the third quarter valued at approximately $48,000. New York State Teachers Retirement System increased its holdings in Bel Fuse by 373.5% during the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares during the period. Tucker Asset Management LLC acquired a new stake in Bel Fuse in the third quarter valued at approximately $59,000. Finally, AJOVista LLC acquired a new position in shares of Bel Fuse during the fourth quarter worth $73,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.