24,708 Shares in Bel Fuse Inc. $BELFB Acquired by Investors Asset Management of Georgia Inc. GA ADV

Key Points

• Investors Asset Management of Georgia acquired 24,708 Bel Fuse shares worth approximately $6.0 million, giving it a 0.17% stake and making BELFB its ninth-largest holding. Institutional investors collectively own 58.39% of the company.
• Bel Fuse shares recently traded at $212.47, below their 50-day and 200-day moving averages, while the stock has ranged from $129.94 to $335.29 over the past year.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Holds and a consensus price target of $315.67. The company also declared a quarterly dividend of $0.07 per share.

Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 24,708 shares of the electronics maker's stock, valued at approximately $6,032,000. Bel Fuse makes up approximately 2.1% of Investors Asset Management of Georgia Inc. GA ADV's holdings, making the stock its 9th largest position. Investors Asset Management of Georgia Inc. GA ADV owned approximately 0.17% of Bel Fuse at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BELFB. State of Wyoming bought a new stake in Bel Fuse in the first quarter worth $30,000. KBC Group NV bought a new position in shares of Bel Fuse during the first quarter valued at $38,000. Signature Equity Partners LLC purchased a new position in shares of Bel Fuse in the 1st quarter worth about $39,000. PNC Financial Services Group Inc. raised its position in shares of Bel Fuse by 20.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker's stock worth $57,000 after purchasing an additional 48 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Bel Fuse during the 1st quarter valued at about $100,000. Hedge funds and other institutional investors own 58.39% of the company's stock.

Insider Buying and Selling at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of Bel Fuse stock in a transaction on Monday, September 14th. The shares were sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director owned 7,434 shares in the company, valued at $1,748,105.10. This trade represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter E. Gilbert sold 500 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the sale, the director directly owned 750 shares of the company's stock, valued at approximately $219,090. The trade was a 40.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,893 shares of company stock worth $476,949 in the last quarter. Corporate insiders own 5.37% of the company's stock.

Bel Fuse Price Performance

Shares of BELFB traded down $3.10 on Tuesday, reaching $212.47. The company's stock had a trading volume of 85,751 shares, compared to its average volume of 219,202. The stock's 50 day simple moving average is $249.81 and its two-hundred day simple moving average is $263.31. The stock has a market capitalization of $3.07 billion, a P/E ratio of 51.31, a PEG ratio of 2.23 and a beta of 1.67. Bel Fuse Inc. has a 12-month low of $129.94 and a 12-month high of $335.29.

Bel Fuse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.07 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse's dividend payout ratio (DPR) is presently 6.76%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BELFB shares. Weiss Ratings raised shares of Bel Fuse from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Bank of America began coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They set a "buy" rating and a $330.00 price target on the stock. Citigroup assumed coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating for the company. B. Riley Financial initiated coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a "buy" rating for the company. Finally, Zacks Research upgraded shares of Bel Fuse from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 14th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $315.67.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products that power, protect and connect electronic circuits. The company's portfolio includes circuit protection devices, magnetic components, interconnect products, power supplies, power conversion solutions and discrete components used in electronic equipment and systems.

Bel Fuse serves customers in industries including telecommunications, networking, computing, industrial equipment, consumer electronics, automotive, medical technology, aerospace and defense.

Want to see what other hedge funds are holding BELFB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bel Fuse Inc. (NASDAQ:BELFB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.