Empowered Funds LLC lowered its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 45.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,983 shares of the electronics maker's stock after selling 9,017 shares during the quarter. Empowered Funds LLC owned 0.09% of Bel Fuse worth $862,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Bel Fuse during the first quarter worth $1,532,000. Comerica Bank increased its stake in Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker's stock valued at $45,000 after buying an additional 510 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Bel Fuse by 142.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,287 shares of the electronics maker's stock valued at $488,000 after purchasing an additional 4,867 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Bel Fuse in the second quarter valued at $25,000. Finally, Legato Capital Management LLC bought a new stake in Bel Fuse in the second quarter valued at approximately $757,000. Institutional investors and hedge funds own 58.39% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on BELFB shares. StockNews.com cut Bel Fuse from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 2nd. Northland Securities raised their price objective on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Needham & Company LLC lifted their price target on shares of Bel Fuse from $79.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Finally, Northland Capmk raised Bel Fuse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 5th.
Check Out Our Latest Report on BELFB
Bel Fuse Stock Performance
Shares of BELFB stock traded up $2.26 on Friday, reaching $79.41. The stock had a trading volume of 68,131 shares, compared to its average volume of 71,478. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00. The stock has a market cap of $996.60 million, a P/E ratio of 18.21 and a beta of 1.35. The company has a 50 day simple moving average of $78.57 and a 200 day simple moving average of $70.38. Bel Fuse Inc. has a 1 year low of $45.74 and a 1 year high of $85.91.
Bel Fuse Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. Bel Fuse's payout ratio is 6.42%.
Insider Transactions at Bel Fuse
In other Bel Fuse news, insider Stephen Dawson sold 1,500 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the completion of the sale, the insider now owns 14,832 shares in the company, valued at $1,151,704.80. This represents a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.37% of the company's stock.
Bel Fuse 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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