Balyasny Asset Management L.P. Lowers Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Balyasny Asset Management L.P. cut its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 59.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,174 shares of the electronics maker's stock after selling 7,461 shares during the period. Balyasny Asset Management L.P.'s holdings in Bel Fuse were worth $427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BELFB. Jane Street Group LLC raised its position in shares of Bel Fuse by 52.8% in the 4th quarter. Jane Street Group LLC now owns 16,331 shares of the electronics maker's stock valued at $1,347,000 after purchasing an additional 5,641 shares during the last quarter. Northern Trust Corp grew its position in Bel Fuse by 11.9% during the 4th quarter. Northern Trust Corp now owns 115,503 shares of the electronics maker's stock worth $9,526,000 after purchasing an additional 12,307 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Bel Fuse by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,003 shares of the electronics maker's stock valued at $331,000 after purchasing an additional 608 shares in the last quarter. Herald Investment Management Ltd purchased a new position in shares of Bel Fuse in the fourth quarter worth $1,973,000. Finally, Dean Investment Associates LLC lifted its stake in shares of Bel Fuse by 35.4% during the fourth quarter. Dean Investment Associates LLC now owns 63,664 shares of the electronics maker's stock worth $5,250,000 after buying an additional 16,630 shares during the period. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Stock Performance

NASDAQ BELFB traded down $0.58 on Thursday, reaching $72.75. 10,194 shares of the company's stock traded hands, compared to its average volume of 78,876. Bel Fuse Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $92.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.66 and a current ratio of 2.92. The firm has a market cap of $921.49 million, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.24 and a beta of 1.50. The stock has a 50 day moving average price of $71.50 and a 200-day moving average price of $77.71.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The electronics maker reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.50. Bel Fuse had a return on equity of 12.37% and a net margin of 7.66%. The business had revenue of $152.24 million during the quarter, compared to analyst estimates of $147.93 million. Equities research analysts predict that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, July 15th. Bel Fuse's payout ratio is presently 8.14%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BELFB. StockNews.com downgraded Bel Fuse from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Craig Hallum began coverage on Bel Fuse in a report on Tuesday, March 25th. They issued a "buy" rating and a $115.00 price objective on the stock. Finally, Needham & Company LLC reduced their price objective on Bel Fuse from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Bel Fuse has a consensus rating of "Buy" and an average price target of $102.50.

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.