Bel Fuse Inc. $BELFB Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 66.8% during the 3rd quarter, Holdings Channel reports. The firm owned 245,248 shares of the electronics maker’s stock after buying an additional 98,178 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bel Fuse were worth $34,584,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Bel Fuse by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after buying an additional 240 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Bel Fuse by 3.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,862 shares of the electronics maker’s stock valued at $377,000 after acquiring an additional 113 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Bel Fuse in the 2nd quarter valued at $50,000. KLP Kapitalforvaltning AS increased its stake in shares of Bel Fuse by 33.3% in the second quarter. KLP Kapitalforvaltning AS now owns 2,400 shares of the electronics maker’s stock worth $234,000 after acquiring an additional 600 shares during the period. Finally, TrueMark Investments LLC purchased a new position in shares of Bel Fuse during the second quarter worth $728,000. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on BELFB. Needham & Company LLC upped their price target on shares of Bel Fuse from $168.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Oppenheimer set a $180.00 price objective on Bel Fuse and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research cut Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Robert W. Baird set a $170.00 target price on Bel Fuse in a report on Friday, October 31st. Finally, Northland Securities set a $188.00 price target on Bel Fuse in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bel Fuse has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Bel Fuse Trading Up 7.2%

BELFB stock opened at $215.59 on Tuesday. Bel Fuse Inc. has a 52-week low of $57.99 and a 52-week high of $216.09. The company has a quick ratio of 1.75, a current ratio of 3.06 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.73 billion, a P/E ratio of 41.46, a PEG ratio of 2.14 and a beta of 1.55. The company’s 50-day simple moving average is $179.95 and its 200-day simple moving average is $154.16.

Insider Activity at Bel Fuse

In other news, VP Joseph Berry sold 408 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $144.23, for a total value of $58,845.84. Following the completion of the sale, the vice president directly owned 17,893 shares in the company, valued at $2,580,707.39. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kenneth Koon Keung Lai sold 564 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $141.96, for a total value of $80,065.44. Following the transaction, the vice president directly owned 7,755 shares of the company’s stock, valued at approximately $1,100,899.80. The trade was a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,027 shares of company stock worth $435,034. 5.37% of the stock is owned by corporate insiders.

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.