Acadian Asset Management LLC Reduces Holdings in Bel Fuse Inc. $BELFB

Key Points

• Acadian Asset Management LLC reduced its holdings in Bel Fuse Inc. by 33.7%, now owning 75,570 shares, worth approximately $5.65 million.
• A variety of other institutional investors have increased their positions in Bel Fuse, with the state of Wyoming significantly raising its stake by 189.9%.
• Bel Fuse declared a quarterly dividend of $0.07 per share, increasing from the previous $0.06, with expected payment on October 31st.

Acadian Asset Management LLC cut its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 33.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,570 shares of the electronics maker's stock after selling 38,390 shares during the period. Acadian Asset Management LLC owned 0.60% of Bel Fuse worth $5,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BELFB. Northern Trust Corp increased its position in shares of Bel Fuse by 11.9% in the 4th quarter. Northern Trust Corp now owns 115,503 shares of the electronics maker's stock valued at $9,526,000 after purchasing an additional 12,307 shares during the last quarter. Jane Street Group LLC increased its position in shares of Bel Fuse by 52.8% in the 4th quarter. Jane Street Group LLC now owns 16,331 shares of the electronics maker's stock valued at $1,347,000 after purchasing an additional 5,641 shares during the last quarter. Deutsche Bank AG increased its position in shares of Bel Fuse by 59.8% in the 4th quarter. Deutsche Bank AG now owns 9,590 shares of the electronics maker's stock valued at $791,000 after purchasing an additional 3,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bel Fuse by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,887 shares of the electronics maker's stock valued at $486,000 after buying an additional 234 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Bel Fuse in the 4th quarter valued at $305,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Performance

Bel Fuse stock traded up $6.37 during midday trading on Thursday, hitting $150.97. 128,783 shares of the company's stock were exchanged, compared to its average volume of 111,885. Bel Fuse Inc. has a 12-month low of $57.99 and a 12-month high of $152.45. 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 cap of $1.91 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 1.76 and a beta of 1.59. The firm's 50 day simple moving average is $128.93 and its 200 day simple moving average is $95.36.

Bel Fuse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a 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 6.86%.

Insider Buying and Selling at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $128.00, for a total transaction of $243,200.00. Following the transaction, the vice president directly owned 10,255 shares of the company's stock, valued at approximately $1,312,640. This trade represents a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Dawson sold 1,200 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the sale, the insider owned 14,265 shares of the company's stock, valued at $1,812,653.55. This trade represents a 7.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BELFB shares. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Northland Securities increased their target price on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Needham & Company LLC increased their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Finally, Oppenheimer increased their target price on shares of Bel Fuse from $140.00 to $175.00 and gave the company an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $136.80.

Bel Fuse 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.