Bel Fuse (NASDAQ:BELFA) Trading Up 6.8% - Here's What Happened

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report)'s stock price shot up 6.8% on Wednesday . The company traded as high as $72.33 and last traded at $74.27. 26,210 shares were traded during trading, an increase of 129% from the average session volume of 11,462 shares. The stock had previously closed at $69.56.

Analyst Ratings Changes

BELFA has been the topic of a number of research reports. Craig Hallum set a $115.00 target price on shares of Bel Fuse and gave the stock a "buy" rating in a report on Tuesday, March 25th. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a report on Monday, June 9th.

Bel Fuse Trading Down 1.9%

The business's 50-day simple moving average is $66.54 and its 200-day simple moving average is $78.48. 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 company has a market cap of $991.45 million, a price-to-earnings ratio of 25.33 and a beta of 1.05.

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

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 yield of 0.31%. Bel Fuse's payout ratio is 7.36%.

Institutional Investors Weigh In On Bel Fuse

A number of institutional investors have recently bought and sold shares of BELFA. Wells Fargo & Company MN grew its stake in Bel Fuse by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company's stock worth $97,000 after buying an additional 223 shares during the period. Bank of America Corp DE grew its stake in Bel Fuse by 41.8% during the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company's stock worth $148,000 after buying an additional 486 shares during the period. Rhumbline Advisers grew its stake in Bel Fuse by 41.5% during the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company's stock worth $188,000 after buying an additional 767 shares during the period. Barclays PLC grew its stake in Bel Fuse by 13.5% during the fourth quarter. Barclays PLC now owns 2,623 shares of the scientific and technical instruments company's stock worth $237,000 after buying an additional 312 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Bel Fuse during the fourth quarter worth approximately $337,000. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

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.