Bel Fuse (NASDAQ:BELFA) Director Sells $146,060.00 in Stock

Key Points

• Director Peter Gilbert sold 500 Bel Fuse shares at an average price of $292.12, generating $146,060 and reducing his holdings by 40% to 750 shares.
• Bel Fuse shares rose 2.4% to $241.16, while the company’s latest quarterly results exceeded expectations with earnings of $2.76 per share and revenue of $210.69 million.
• The company declared a quarterly dividend of $0.06 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $250.

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) Director Peter Gilbert sold 500 shares of Bel Fuse stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total transaction of $146,060.00. Following the transaction, the director owned 750 shares of the company's stock, valued at approximately $219,090. The trade was a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bel Fuse Stock Up 2.4%

Shares of BELFA traded up $5.72 during mid-day trading on Friday, reaching $241.16. 31,092 shares of the company's stock were exchanged, compared to its average volume of 113,595. Bel Fuse Inc. has a 52-week low of $107.51 and a 52-week high of $293.51. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 61.63 and a beta of 1.40. The company has a 50-day simple moving average of $241.11 and a two-hundred day simple moving average of $224.94.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.42. The company had revenue of $210.69 million during the quarter, compared to the consensus estimate of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse's dividend payout ratio is currently 6.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup assumed coverage on Bel Fuse in a research note on Monday, July 13th. They issued a "buy" rating for the company. Weiss Ratings raised shares of Bel Fuse from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $250.00.

Institutional Trading of Bel Fuse

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC raised its position in shares of Bel Fuse by 16.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company's stock worth $360,000 after buying an additional 179 shares during the period. Renaissance Technologies LLC grew its stake in Bel Fuse by 62.3% during the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock worth $12,299,000 after buying an additional 26,200 shares during the period. Sei Investments Co. increased its position in shares of Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company's stock worth $1,745,000 after acquiring an additional 5,076 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Bel Fuse by 6,000.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company's stock valued at $55,000 after acquiring an additional 300 shares during the period. Finally, Abel Hall LLC purchased a new stake in Bel Fuse during the 1st quarter worth $205,000. 6.01% of the stock is owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.

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