Bel Fuse (NASDAQ:BELFA) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Key Points

• Bel Fuse beat expectations, reporting $1.72 EPS versus the $1.62 consensus (beat of $0.10) and revenue of $178.49M versus $171.74M, with a net margin of 9.11% and ROE of 21.78%.
• Significant insider selling: CEO Farouq Salem Ali Tuweiq sold 33,967 shares (~$7.95M) and a director sold 4,500 shares, while insiders own about 4.75% of the stock.
• The company declared a quarterly dividend of $0.06 (annualized $0.24, yield 0.1%), and the stock traded up 1.2% to $229.56; market cap is $2.91B with a PE of 49.37 and an average analyst price target of $250 (consensus rating: Buy).

Bel Fuse (NASDAQ:BELFA - Get Free Report) released its earnings results on Wednesday. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10, FiscalAI reports. Bel Fuse had a net margin of 9.11% and a return on equity of 21.78%. The company had revenue of $178.49 million for the quarter, compared to analyst estimates of $171.74 million.

Bel Fuse Trading Up 1.2%

Bel Fuse stock traded up $2.82 during trading hours on Wednesday, reaching $229.56. The stock had a trading volume of 17,786 shares, compared to its average volume of 66,948. The stock has a market cap of $2.91 billion, a PE ratio of 49.37 and a beta of 1.25. Bel Fuse has a 52 week low of $60.97 and a 52 week high of $255.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.02 and a quick ratio of 1.71. The company has a fifty day simple moving average of $205.48 and a 200-day simple moving average of $173.11.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, April 15th. Bel Fuse's dividend payout ratio (DPR) is 5.16%.

Analyst Upgrades and Downgrades

BELFA has been the topic of several recent research reports. Weiss Ratings lowered shares of Bel Fuse from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, February 26th. Robert W. Baird set a $250.00 price target on shares of Bel Fuse in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $250.00.

Insiders Place Their Bets

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter E. Gilbert sold 4,500 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director directly owned 15,047 shares in the company, valued at approximately $3,592,471.25. This trade represents a 23.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bel Fuse

Several institutional investors and hedge funds have recently modified their holdings of BELFA. Rhumbline Advisers lifted its position in shares of Bel Fuse by 41.5% in the 1st quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company's stock worth $188,000 after purchasing an additional 767 shares during the period. Tower Research Capital LLC TRC lifted its position in Bel Fuse by 447.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 608 shares during the period. JPMorgan Chase & Co. lifted its position in Bel Fuse by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company's stock valued at $274,000 after acquiring an additional 150 shares during the period. Vanguard Group Inc. lifted its position in Bel Fuse by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company's stock valued at $6,122,000 after acquiring an additional 6,408 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Bel Fuse by 92.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 153 shares during the period. 6.01% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Company Profile

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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