Pinnacle Associates Ltd. Buys 22,995 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Pinnacle Associates Ltd. lifted its position in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 168.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,680 shares of the electronics maker's stock after buying an additional 22,995 shares during the quarter. Pinnacle Associates Ltd. owned about 0.29% of Bel Fuse worth $2,880,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Beach Investment Counsel Inc. PA acquired a new stake in shares of Bel Fuse during the 2nd quarter worth approximately $25,000. Isthmus Partners LLC acquired a new position in shares of Bel Fuse during the second quarter valued at about $39,000. nVerses Capital LLC bought a new position in shares of Bel Fuse during the 3rd quarter worth about $39,000. Comerica Bank grew its stake in shares of 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 period. Finally, SG Americas Securities LLC bought a new stake in Bel Fuse in the 3rd quarter valued at about $200,000. Institutional investors own 58.39% of the company's stock.

Bel Fuse Stock Performance

Shares of NASDAQ BELFB traded down $1.27 during midday trading on Friday, hitting $74.15. The company's stock had a trading volume of 122,695 shares, compared to its average volume of 93,200. The stock has a fifty day moving average price of $74.97 and a 200 day moving average price of $68.30. The firm has a market capitalization of $930.58 million, a price-to-earnings ratio of 17.01 and a beta of 1.34. Bel Fuse Inc. has a one year low of $45.74 and a one year high of $85.91. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, January 15th. Bel Fuse's payout ratio is presently 6.42%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Northland Securities increased 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 increased their price target on Bel Fuse from $68.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Northland Capmk raised shares of Bel Fuse from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 25th.

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.