Bel Fuse (NASDAQ:BELFB) Reaches New 1-Year High - Here's What Happened

Key Points

• Bel Fuse Inc.'s stock reached a new 52-week high of $146.00, closing at $144.64 with a trading volume of 4,623 shares.
• The company has increased its quarterly dividend to $0.07 per share, reflecting an annualized dividend of $0.28 and a yield of 0.2%.
• Analysts have generally rated Bel Fuse with a Buy average, with price targets ranging from $125.00 to $154.00, indicating positive market sentiment.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $146.00 and last traded at $144.64, with a volume of 4623 shares changing hands. The stock had previously closed at $143.15.

Analyst Ratings Changes

Several research firms recently commented on BELFB. Robert W. Baird lifted their price objective on Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Oppenheimer set a $125.00 price objective on Bel Fuse and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded Bel Fuse from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Needham & Company LLC lifted their price objective on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Northland Securities lifted their price objective on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, Bel Fuse has an average rating of "Buy" and an average target price of $126.80.

Bel Fuse Trading Up 0.4%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05. The stock has a market capitalization of $1.82 billion, a PE ratio of 35.22, a PEG ratio of 1.72 and a beta of 1.59. The stock has a 50-day moving average price of $122.49 and a two-hundred day moving average price of $92.36.

Bel Fuse Increases Dividend

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

Insider Transactions at Bel Fuse

In related news, insider Stephen Dawson sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total value of $152,484.00. Following the transaction, the insider directly owned 14,265 shares of the company's stock, valued at approximately $1,812,653.55. The trade was a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kenneth Koon Keung Lai sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the completion of the transaction, the vice president directly owned 12,155 shares in the company, valued at approximately $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,100 shares of company stock worth $731,804. Insiders own 5.37% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Bel Fuse by 147.1% in the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after purchasing an additional 228 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Bel Fuse in the 2nd quarter worth approximately $50,000. BNP Paribas Financial Markets increased its stake in Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker's stock worth $98,000 after acquiring an additional 375 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Bel Fuse by 437.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker's stock worth $101,000 after acquiring an additional 845 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Bel Fuse by 6.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker's stock worth $156,000 after acquiring an additional 100 shares during the last quarter. 58.39% of the stock is 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.

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