Bel Fuse (NASDAQ:BELFB) Reaches New 1-Year High Following Dividend Announcement

Key Points

• Bel Fuse Inc. shares reached a new 52-week high of $131.74 following a dividend announcement, with the stock trading last at $131.57.
• The company declared a quarterly dividend of $0.07, which is an increase from the previous $0.06, representing an annualized yield of 0.2%.
• Wall Street analysts have shown confidence in Bel Fuse, with several upgrades to "strong-buy" ratings and an increased consensus price target of $113.60.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $131.74 and last traded at $131.57, with a volume of 119190 shares. The stock had previously closed at $127.50.

The newly announced dividend which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's dividend payout ratio is 6.86%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BELFB shares. Oppenheimer set a $125.00 target price on shares of Bel Fuse and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Needham & Company LLC boosted their price objective on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Northland Securities raised their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a report on Tuesday, June 10th. Finally, Wall Street Zen raised shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Bel Fuse currently has an average rating of "Buy" and a consensus target price of $113.60.

Bel Fuse Stock Up 2.9%

The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72. The firm's 50 day moving average price is $99.49 and its two-hundred day moving average price is $83.83. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.80 and a beta of 1.52.

Insider Transactions at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 1,900 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $128.00, for a total value of $243,200.00. Following the completion of the sale, the vice president directly owned 10,255 shares in the company, valued at approximately $1,312,640. The trade was a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Dawson sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the transaction, the insider owned 14,265 shares in the company, valued at $1,812,653.55. The trade was a 7.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,100 shares of company stock valued at $731,804. 5.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey increased its holdings in Bel Fuse by 17.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,437 shares of the electronics maker's stock valued at $238,000 after buying an additional 358 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bel Fuse by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker's stock worth $31,451,000 after acquiring an additional 8,243 shares in the last quarter. Boston Partners increased its holdings in shares of Bel Fuse by 34.8% in the 2nd quarter. Boston Partners now owns 51,307 shares of the electronics maker's stock valued at $5,012,000 after acquiring an additional 13,234 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Bel Fuse during the 2nd quarter valued at approximately $208,000. Finally, PFG Advisors lifted its stake in Bel Fuse by 3.3% during the second quarter. PFG Advisors now owns 6,281 shares of the electronics maker's stock worth $614,000 after purchasing an additional 199 shares during the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

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.