Gabelli Funds LLC trimmed its holdings in Bel Fuse Inc. (NASDAQ:BELFA - Free Report) by 57.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,200 shares of the scientific and technical instruments company's stock after selling 96,800 shares during the quarter. Gabelli Funds LLC owned about 0.58% of Bel Fuse worth $6,504,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Bel Fuse by 4,248.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,581 shares of the scientific and technical instruments company's stock valued at $6,720,000 after buying an additional 66,027 shares during the period. American Century Companies Inc. grew its holdings in shares of Bel Fuse by 58.1% during the 4th quarter. American Century Companies Inc. now owns 30,019 shares of the scientific and technical instruments company's stock worth $2,704,000 after purchasing an additional 11,031 shares during the period. Geode Capital Management LLC increased its position in shares of Bel Fuse by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 36,861 shares of the scientific and technical instruments company's stock worth $3,321,000 after purchasing an additional 3,167 shares during the last quarter. State Street Corp lifted its position in Bel Fuse by 12.9% in the third quarter. State Street Corp now owns 25,125 shares of the scientific and technical instruments company's stock valued at $2,498,000 after buying an additional 2,876 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Bel Fuse by 278.9% during the third quarter. Barclays PLC now owns 2,311 shares of the scientific and technical instruments company's stock valued at $230,000 after acquiring an additional 1,701 shares during the last quarter. Institutional investors and hedge funds own 6.01% of the company's stock.
Wall Street Analyst Weigh In
Separately, Craig Hallum set a $115.00 target price on Bel Fuse and gave the company a "buy" rating in a research report on Tuesday, March 25th.
Get Our Latest Stock Report on BELFA
Bel Fuse Stock Down 4.2 %
Shares of BELFA stock traded down $2.78 during trading on Tuesday, reaching $63.44. The company's stock had a trading volume of 6,261 shares, compared to its average volume of 12,228. The company has a market capitalization of $795.41 million, a price-to-earnings ratio of 20.53 and a beta of 0.99. Bel Fuse Inc. has a 1-year low of $53.95 and a 1-year high of $106.93. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.92 and a quick ratio of 1.66. The stock's 50-day moving average price is $73.94 and its 200 day moving average price is $87.16.
Bel Fuse (NASDAQ:BELFA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.44. Bel Fuse had a return on equity of 18.61% and a net margin of 7.66%. The company had revenue of $149.86 million for the quarter, compared to the consensus estimate of $126.41 million.
Bel Fuse Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. Bel Fuse's payout ratio is 7.77%.
Bel Fuse Company Profile
(
Free Report)
Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.
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