Bel Fuse (NASDAQ:BELFA) Trading 6.8% Higher After Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report)'s stock price shot up 6.8% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $88.39 and last traded at $89.20. 5,985 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 9,437 shares. The stock had previously closed at $83.51.

The newly announced dividend which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 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 0.29%. The ex-dividend date of this dividend is Tuesday, April 15th. Bel Fuse's dividend payout ratio (DPR) is presently 7.77%.

Bel Fuse Stock Down 1.7 %

The company has a quick ratio of 1.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.04 billion, a P/E ratio of 26.79 and a beta of 1.23. The company's 50 day moving average price is $86.99 and its two-hundred day moving average price is $92.46.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.44. Bel Fuse had a return on equity of 18.61% and a net margin of 7.66%. The business had revenue of $149.86 million during the quarter, compared to analyst estimates of $126.41 million.

Institutional Investors Weigh In On Bel Fuse

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its position in shares of Bel Fuse by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company's stock worth $97,000 after acquiring an additional 223 shares in the last quarter. MetLife Investment Management LLC grew its stake in Bel Fuse by 129.2% in the third quarter. MetLife Investment Management LLC now owns 1,098 shares of the scientific and technical instruments company's stock valued at $109,000 after purchasing an additional 619 shares during the last quarter. Bank of America Corp DE raised its holdings in Bel Fuse by 41.8% in the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company's stock worth $148,000 after purchasing an additional 486 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Bel Fuse by 632.5% in the third quarter. BNP Paribas Financial Markets now owns 2,073 shares of the scientific and technical instruments company's stock worth $206,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Barclays PLC lifted 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 buying an additional 1,701 shares during the last quarter. Institutional investors own 6.01% of the company's stock.

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.