Navellier & Associates Inc. cut its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 41.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,937 shares of the electronics maker's stock after selling 9,884 shares during the period. Navellier & Associates Inc. owned approximately 0.11% of Bel Fuse worth $1,094,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Bel Fuse by 1.3% during the second quarter. Renaissance Technologies LLC now owns 309,851 shares of the electronics maker's stock worth $20,215,000 after acquiring an additional 4,027 shares in the last quarter. American Century Companies Inc. grew its position in Bel Fuse by 11.6% in the 2nd quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker's stock worth $18,024,000 after purchasing an additional 28,649 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Bel Fuse by 7.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 179,503 shares of the electronics maker's stock worth $14,093,000 after purchasing an additional 12,007 shares in the last quarter. Roubaix Capital LLC grew its position in Bel Fuse by 16.4% in the 3rd quarter. Roubaix Capital LLC now owns 64,399 shares of the electronics maker's stock worth $5,056,000 after purchasing an additional 9,069 shares in the last quarter. Finally, Isthmus Partners LLC bought a new stake in Bel Fuse in the 2nd quarter worth about $39,000. 58.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Northland Securities increased their target price on shares of Bel Fuse from $80.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Northland Capmk raised shares of Bel Fuse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 5th. StockNews.com downgraded shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 2nd. Finally, Needham & Company LLC increased their target price on shares of Bel Fuse from $79.00 to $95.00 and gave the company a "buy" rating in a research report on Monday.
Check Out Our Latest Stock Report on BELFB
Insider Activity at Bel Fuse
In other Bel Fuse news, insider Stephen Dawson sold 1,500 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $77.65, for a total value of $116,475.00. Following the sale, the insider now owns 14,832 shares of the company's stock, valued at $1,151,704.80. This trade represents a 9.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.37% of the stock is owned by insiders.
Bel Fuse Price Performance
Shares of NASDAQ:BELFB traded up $2.26 during trading on Friday, reaching $79.41. The company had a trading volume of 68,131 shares, compared to its average volume of 91,290. The company has a fifty day moving average of $78.37 and a two-hundred day moving average of $70.24. The stock has a market capitalization of $996.60 million, a P/E ratio of 17.68 and a beta of 1.35. Bel Fuse Inc. has a 12 month low of $45.74 and a 12 month 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Wednesday, January 15th. Bel Fuse's dividend payout ratio is currently 6.42%.
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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