Thrivent Financial for Lutherans Acquires 12,007 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Thrivent Financial for Lutherans raised its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,503 shares of the electronics maker's stock after acquiring an additional 12,007 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.43% of Bel Fuse worth $14,093,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in Bel Fuse by 73.5% during the 1st quarter. BNP Paribas Financial Markets now owns 5,862 shares of the electronics maker's stock worth $354,000 after purchasing an additional 2,484 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Bel Fuse during the 1st quarter worth approximately $1,532,000. Truvestments Capital LLC bought a new position in Bel Fuse during the 1st quarter worth approximately $407,000. Comerica Bank raised its holdings in Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker's stock worth $45,000 after purchasing an additional 510 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Bel Fuse by 142.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,287 shares of the electronics maker's stock worth $488,000 after purchasing an additional 4,867 shares during the last quarter. Institutional investors own 58.39% of the company's stock.

Bel Fuse Stock Performance

NASDAQ BELFB traded up $1.76 during trading on Thursday, hitting $77.09. 42,442 shares of the company's stock traded hands, compared to its average volume of 91,393. The stock has a market capitalization of $967.48 million, a price-to-earnings ratio of 17.28 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 debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00. The business has a 50 day moving average of $78.16 and a 200-day moving average of $70.20.

Bel Fuse Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Wednesday, January 15th. Bel Fuse's dividend payout ratio is presently 6.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BELFB. StockNews.com downgraded shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research 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. Finally, Northland Capmk raised shares of Bel Fuse from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 5th.

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.