Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $92.68 and last traded at $92.22, with a volume of 88110 shares trading hands. The stock had previously closed at $90.51.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BELFB. Robert W. Baird began coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They set an "outperform" rating and a $88.00 target price for the company. Craig Hallum started coverage on Bel Fuse in a research report on Tuesday, March 25th. They set a "buy" rating and a $115.00 price objective for the company. Needham & Company LLC dropped their target price on Bel Fuse from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Bel Fuse currently has an average rating of "Buy" and a consensus price target of $99.60.
Get Our Latest Research Report on BELFB
Bel Fuse Price Performance
The firm has a market cap of $1.18 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.29 and a beta of 1.46. The firm's fifty day simple moving average is $74.71 and its 200 day simple moving average is $77.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.83 and a current ratio of 3.31.
Bel Fuse (NASDAQ:BELFB - Get Free Report) last posted its earnings results on Thursday, April 24th. The electronics maker reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.50. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. The firm had revenue of $152.24 million during the quarter, compared to the consensus estimate of $147.93 million. As a group, analysts forecast that Bel Fuse Inc. will post 4.63 earnings per share for the current year.
Bel Fuse Cuts Dividend
The business also recently announced 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, July 15th. Bel Fuse's dividend payout ratio (DPR) is 8.14%.
Insider Buying and Selling
In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $84.03, for a total value of $336,120.00. Following the transaction, the vice president now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.37% of the stock is owned by corporate insiders.
Institutional Trading of Bel Fuse
A number of hedge funds have recently added to or reduced their stakes in BELFB. NEOS Investment Management LLC bought a new position in shares of Bel Fuse in the 4th quarter worth $752,000. Paragon Associates & Paragon Associates II Joint Venture boosted its holdings in shares of Bel Fuse by 7.9% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 68,000 shares of the electronics maker's stock valued at $5,608,000 after buying an additional 5,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bel Fuse by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,254 shares of the electronics maker's stock worth $1,670,000 after buying an additional 4,204 shares during the last quarter. Millennium Management LLC bought a new position in shares of Bel Fuse during the 4th quarter worth approximately $305,000. Finally, Intech Investment Management LLC purchased a new stake in Bel Fuse during the fourth quarter valued at approximately $371,000. 58.39% of the stock is owned by hedge funds and other institutional investors.
About Bel Fuse
(
Get Free Report)
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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