Loomis Sayles & Co. L P Sells 9,291 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Loomis Sayles & Co. L P trimmed its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,362 shares of the electronics maker's stock after selling 9,291 shares during the quarter. Loomis Sayles & Co. L P owned about 1.60% of Bel Fuse worth $15,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BELFB. Beach Investment Counsel Inc. PA bought a new position in Bel Fuse in the 2nd quarter worth approximately $25,000. nVerses Capital LLC bought a new position in Bel Fuse during the 3rd quarter valued at $39,000. Comerica Bank boosted its stake in Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker's stock valued at $45,000 after purchasing an additional 510 shares in the last quarter. SG Americas Securities LLC bought a new position in Bel Fuse during the 3rd quarter valued at $200,000. Finally, One Wealth Advisors LLC bought a new position in Bel Fuse during the 3rd quarter valued at $227,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Joseph Francis Berry sold 1,000 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.30, for a total value of $80,300.00. Following the sale, the vice president now directly owns 8,023 shares of the company's stock, valued at approximately $644,246.90. This trade represents a 11.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Dawson sold 1,500 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $77.65, for a total value of $116,475.00. Following the completion of the sale, the insider now directly owns 14,832 shares in the company, valued at approximately $1,151,704.80. This represents a 9.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BELFB shares. Northland Capmk raised Bel Fuse from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 5th. Northland Securities raised their price objective on Bel Fuse from $80.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. Needham & Company LLC raised their price objective on Bel Fuse from $79.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Finally, StockNews.com lowered Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 2nd.

Bel Fuse Stock Down 0.9 %

Bel Fuse stock traded down $0.75 during mid-day trading on Wednesday, hitting $78.95. 61,031 shares of the company's stock were exchanged, compared to its average volume of 90,913. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16. The stock has a market cap of $990.82 million, a P/E ratio of 18.28 and a beta of 1.35. Bel Fuse Inc. has a 1-year low of $45.74 and a 1-year high of $85.91. The stock has a 50 day moving average of $79.02 and a two-hundred day moving average of $70.76.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date is Wednesday, January 15th. Bel Fuse's payout ratio is 6.42%.

About Bel Fuse

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.