Allspring Global Investments Holdings LLC Increases Stock Position in Bel Fuse Inc. $BELFB

Key Points

• Allspring Global Investments dramatically increased its stake in Bel Fuse, reporting ownership of 94,822 shares worth about $19.25 million after buying nearly 94,800 additional shares in the first quarter.
• Bel Fuse shares were trading at $281.51, giving the company a market cap of about $3.58 billion. The stock has ranged from $102.68 to $335.29 over the past year and currently trades at a PE ratio of 64.13.
• Analysts remain largely positive on the stock, with eight Buy ratings and an average target price of $321.50. The company also announced a quarterly dividend of $0.07 per share, payable July 31.

Allspring Global Investments Holdings LLC lifted its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 364,600.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,822 shares of the electronics maker's stock after acquiring an additional 94,796 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.75% of Bel Fuse worth $19,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BELFB. Farther Finance Advisors LLC boosted its stake in shares of Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock worth $25,000 after buying an additional 117 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Bel Fuse in the fourth quarter worth $33,000. Erste Asset Management GmbH purchased a new stake in Bel Fuse during the fourth quarter valued at $83,000. Fifth Third Bancorp purchased a new stake in Bel Fuse during the first quarter valued at $100,000. Finally, Clearstead Advisors LLC lifted its holdings in Bel Fuse by 195.0% in the fourth quarter. Clearstead Advisors LLC now owns 590 shares of the electronics maker's stock valued at $100,000 after acquiring an additional 390 shares during the period. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

Shares of NASDAQ BELFB opened at $281.51 on Wednesday. The stock has a market cap of $3.58 billion, a PE ratio of 64.13, a price-to-earnings-growth ratio of 2.76 and a beta of 1.68. Bel Fuse Inc. has a 1 year low of $102.68 and a 1 year high of $335.29. The firm has a fifty day moving average price of $279.43 and a 200-day moving average price of $242.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse's dividend payout ratio (DPR) is 6.38%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Bel Fuse in a report on Monday, July 13th. They issued a "buy" rating on the stock. Weiss Ratings upgraded shares of Bel Fuse from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Oppenheimer reiterated an "outperform" rating and set a $315.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. Robert W. Baird set a $293.00 price objective on shares of Bel Fuse in a research report on Friday, May 1st. Finally, Bank of America began coverage on Bel Fuse in a research note on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $321.50.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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