Hound Partners LLC Reduces Stock Position in Bel Fuse Inc. $BELFA

Hound Partners LLC reduced its stake in Bel Fuse Inc. (NASDAQ:BELFA) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,814 shares of the scientific and technical instruments company’s stock after selling 2,826 shares during the period. Bel Fuse makes up about 0.8% of Hound Partners LLC’s holdings, making the stock its 22nd largest holding. Hound Partners LLC owned 0.27% of Bel Fuse worth $6,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Bel Fuse by 62.3% during the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock valued at $12,299,000 after purchasing an additional 26,200 shares during the period. Sei Investments Co. boosted its stake in Bel Fuse by 110.2% in the 1st quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock worth $1,745,000 after purchasing an additional 5,076 shares during the period. PNC Financial Services Group Inc. grew its holdings in Bel Fuse by 6,000.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock valued at $55,000 after buying an additional 300 shares in the last quarter. Abel Hall LLC purchased a new position in Bel Fuse during the 1st quarter valued at about $205,000. Finally, Strs Ohio bought a new stake in shares of Bel Fuse during the first quarter valued at about $396,000. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

Shares of BELFA stock opened at $233.15 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. Bel Fuse Inc. has a 52-week low of $94.15 and a 52-week high of $293.51. The company has a market capitalization of $2.97 billion, a PE ratio of 56.18 and a beta of 1.37. The business’s fifty day moving average is $245.72 and its 200 day moving average is $219.90.

Bel Fuse (NASDAQ:BELFA) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $178.49 million during the quarter, compared to analyst estimates of $172.07 million. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given 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 is Wednesday, July 15th. Bel Fuse’s dividend payout ratio (DPR) is 5.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BELFA shares. Citigroup assumed coverage on shares of Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating on the stock. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Bel Fuse 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.