Bel Fuse (NASDAQ:BELFA) Hits New 52-Week High - Still a Buy?

Key Points

• Bel Fuse Inc. shares reached a new 52-week high of $119.30 during trading, closing at $116.51 with a market cap of $1.46 billion.
• An earnings report revealed a quarterly earnings per share of $1.58, exceeding estimates, alongside a revenue of $168.30 million, surpassing analyst predictions.
• The company announced a quarterly dividend of $0.06 per share, scheduled for payment on October 31st, 2023, with an annualized yield of 0.2%.

Shares of Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $119.30 and last traded at $116.51, with a volume of 6404 shares traded. The stock had previously closed at $117.10.

Wall Street Analyst Weigh In

Separately, Baird R W raised Bel Fuse to a "strong-buy" rating in a report on Monday, June 9th.

Bel Fuse Stock Performance

The firm has a 50-day simple moving average of $93.64 and a two-hundred day simple moving average of $79.81. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 29.32 and a beta of 1.12.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last posted its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.15 by $0.43. The company had revenue of $168.30 million during the quarter, compared to the consensus estimate of $149.60 million. Bel Fuse had a net margin of 8.59% and a return on equity of 18.33%.

Bel Fuse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. Bel Fuse's dividend payout ratio (DPR) is presently 6.22%.

Institutional Trading of Bel Fuse

Several hedge funds have recently added to or reduced their stakes in the business. Gabelli Funds LLC lifted its position in shares of Bel Fuse by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company's stock worth $6,056,000 after acquiring an additional 200 shares during the period. Wells Fargo & Company MN raised its stake in shares of Bel Fuse by 26.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 223 shares in the last quarter. Barclays PLC lifted its position in Bel Fuse by 13.5% in the fourth quarter. Barclays PLC now owns 2,623 shares of the scientific and technical instruments company's stock worth $237,000 after purchasing an additional 312 shares during the period. Northern Trust Corp lifted its position in Bel Fuse by 1.9% in the fourth quarter. Northern Trust Corp now owns 17,610 shares of the scientific and technical instruments company's stock worth $1,586,000 after purchasing an additional 323 shares during the period. Finally, Rhumbline Advisers boosted its stake in Bel Fuse by 17.7% during the second quarter. Rhumbline Advisers now owns 3,075 shares of the scientific and technical instruments company's stock worth $276,000 after buying an additional 462 shares in the last quarter. Institutional investors own 6.01% of the company's stock.

Bel Fuse Company Profile

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.