Bel Fuse (NASDAQ:BELFA) Director Sells 500 Shares

Bel Fuse Inc. (NASDAQ:BELFA) Director Peter Gilbert sold 500 shares of Bel Fuse stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the completion of the sale, the director owned 750 shares of the company’s stock, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Bel Fuse Trading Up 2.4%

BELFA stock traded up $5.72 during mid-day trading on Friday, hitting $241.16. 31,092 shares of the company were exchanged, compared to its average volume of 113,595. The company has a market capitalization of $3.07 billion, a PE ratio of 61.63 and a beta of 1.40. The firm has a fifty day simple moving average of $241.11 and a 200 day simple moving average of $224.94. Bel Fuse Inc. has a twelve month low of $107.51 and a twelve month high of $293.51.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.42. The firm had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse’s dividend payout ratio is 6.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Bel Fuse by 62.3% in the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock worth $12,299,000 after buying an additional 26,200 shares in the last quarter. Sei Investments Co. raised its stake in Bel Fuse by 110.2% during the 1st quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock valued at $1,745,000 after acquiring an additional 5,076 shares in the last quarter. Strs Ohio acquired a new position in Bel Fuse during the 1st quarter worth $396,000. Aristeia Capital L.L.C. boosted its position in Bel Fuse by 21.9% during the 4th quarter. Aristeia Capital L.L.C. now owns 11,094 shares of the scientific and technical instruments company’s stock worth $1,684,000 after acquiring an additional 1,994 shares during the period. Finally, Congruence Capital LLC acquired a new position in Bel Fuse during the 4th quarter worth $414,000. 6.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Citigroup began coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bel Fuse has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Bel Fuse Company Profile

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.