Geode Capital Management LLC Acquires 6,250 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Geode Capital Management LLC raised its position in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 289,298 shares of the electronics maker's stock after purchasing an additional 6,250 shares during the period. Geode Capital Management LLC owned about 2.31% of Bel Fuse worth $22,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of Bel Fuse by 10.0% during the third quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker's stock valued at $172,000 after buying an additional 200 shares during the last quarter. nVerses Capital LLC purchased a new position in Bel Fuse during the 3rd quarter worth $39,000. Rhumbline Advisers raised its stake in Bel Fuse by 4.9% in the second quarter. Rhumbline Advisers now owns 16,766 shares of the electronics maker's stock valued at $1,094,000 after buying an additional 787 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Bel Fuse by 10.5% in the second quarter. Principal Financial Group Inc. now owns 8,631 shares of the electronics maker's stock worth $563,000 after acquiring an additional 823 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Bel Fuse by 11.8% during the third quarter. Truvestments Capital LLC now owns 9,409 shares of the electronics maker's stock worth $739,000 after acquiring an additional 990 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BELFB shares. Needham & Company LLC boosted 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. Northland Capmk raised shares of Bel Fuse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 5th. Northland Securities increased their price target on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. Oppenheimer initiated coverage on Bel Fuse in a research note on Tuesday, December 17th. They issued an "outperform" rating and a $105.00 target price on the stock. Finally, StockNews.com cut Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 2nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $98.33.

Bel Fuse Trading Down 3.5 %

Shares of BELFB stock traded down $2.96 on Friday, reaching $81.45. 54,062 shares of the stock were exchanged, compared to its average volume of 88,595. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.02 billion, a P/E ratio of 18.68 and a beta of 1.33. The firm has a 50 day moving average of $80.53 and a two-hundred day moving average of $73.51. Bel Fuse Inc. has a 1-year low of $45.74 and a 1-year high of $92.61.

Bel Fuse Dividend Announcement

The firm also recently announced 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Wednesday, January 15th. Bel Fuse's payout ratio is 6.42%.

Insider Buying and Selling

In other news, insider Stephen Dawson sold 1,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 14,832 shares in the company, valued at approximately $1,151,704.80. The trade was a 9.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Francis Berry sold 1,000 shares of Bel Fuse stock in a transaction on Tuesday, November 26th. The shares were 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 in the company, valued at $644,246.90. The trade was a 11.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.37% 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.