Bel Fuse (NASDAQ:BELFA) Sees Strong Trading Volume - Here's What Happened

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) shares saw strong trading volume on Tuesday . 15,504 shares changed hands during mid-day trading, an increase of 36% from the previous session's volume of 11,385 shares.The stock last traded at $63.72 and had previously closed at $63.51.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum set a $115.00 price objective on Bel Fuse and gave the stock a "buy" rating in a report on Tuesday, March 25th.

Bel Fuse Trading Up 1.6%

The business has a 50 day moving average of $65.58 and a 200 day moving average of $79.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.92 and a quick ratio of 1.66. The firm has a market capitalization of $849.83 million, a price-to-earnings ratio of 21.71 and a beta of 1.17.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.29. Bel Fuse had a net margin of 7.66% and a return on equity of 18.61%. The business had revenue of $152.24 million for the quarter, compared to analyst estimates of $148.60 million.

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Bel Fuse's dividend payout ratio (DPR) is presently 7.36%.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently modified their holdings of BELFA. JPMorgan Chase & Co. lifted its stake in shares of Bel Fuse by 67.6% in the 4th quarter. JPMorgan Chase & Co. now owns 113,291 shares of the scientific and technical instruments company's stock valued at $10,205,000 after purchasing an additional 45,710 shares during the period. Renaissance Technologies LLC increased its position in Bel Fuse by 3.1% in the 4th quarter. Renaissance Technologies LLC now owns 43,253 shares of the scientific and technical instruments company's stock valued at $3,896,000 after buying an additional 1,300 shares in the last quarter. Geode Capital Management LLC raised its stake in Bel Fuse by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 36,861 shares of the scientific and technical instruments company's stock worth $3,321,000 after buying an additional 3,167 shares during the period. American Century Companies Inc. grew its stake in Bel Fuse by 19.6% in the first quarter. American Century Companies Inc. now owns 35,895 shares of the scientific and technical instruments company's stock valued at $2,587,000 after acquiring an additional 5,876 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Bel Fuse by 1.9% during the fourth quarter. Northern Trust Corp now owns 17,610 shares of the scientific and technical instruments company's stock valued at $1,586,000 after acquiring an additional 323 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.