Bel Fuse Inc. $BELFB Stock: Ballast Asset Management LP Trims Holdings

Key Points

• Ballast Asset Management reduced its Bel Fuse stake by 24.9% in the third quarter, selling 5,840 shares and retaining 17,653 shares valued at about $4.3 million. Institutional investors and hedge funds overall owned 58.39% of the company’s stock.
• Bel Fuse reported quarterly EPS of $1.83, below the $2.72 consensus, while revenue of $220.51 million topped analyst estimates of $215.74 million.
• Analyst sentiment remained broadly positive: the stock had a “Moderate Buy” consensus and an average price target of $320.67; JPMorgan raised its target to $360.

Ballast Asset Management LP cut its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,653 shares of the electronics maker's stock after selling 5,840 shares during the period. Bel Fuse accounts for about 1.9% of Ballast Asset Management LP's investment portfolio, making the stock its 25th biggest holding. Ballast Asset Management LP owned 0.12% of Bel Fuse worth $4,309,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BELFB. Janus Henderson Group PLC lifted its stake in Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock valued at $150,587,000 after purchasing an additional 140,804 shares during the last quarter. Wasatch Advisors LP increased its position in Bel Fuse by 2.2% during the second quarter. Wasatch Advisors LP now owns 489,414 shares of the electronics maker's stock worth $162,994,000 after buying an additional 10,705 shares during the last quarter. Congress Asset Management Co. acquired a new position in Bel Fuse during the third quarter worth approximately $63,101,000. Dimensional Fund Advisors LP raised its stake in Bel Fuse by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 256,833 shares of the electronics maker's stock valued at $50,851,000 after buying an additional 1,992 shares during the period. Finally, Tidal Investments LLC raised its stake in Bel Fuse by 49.4% in the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker's stock valued at $70,540,000 after buying an additional 70,014 shares during the period. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Stock Up 8.5%

Shares of Bel Fuse stock opened at $224.35 on Tuesday. Bel Fuse Inc. has a 12-month low of $133.71 and a 12-month high of $335.29. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 51.77, a PEG ratio of 1.61 and a beta of 1.70. The firm's 50-day moving average price is $235.08 and its two-hundred day moving average price is $248.39.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $1.83 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.89). The firm had revenue of $220.51 million for the quarter, compared to analyst estimates of $215.74 million. Bel Fuse had a net margin of 7.34% and a return on equity of 8.53%. On average, sell-side analysts expect that Bel Fuse Inc. will post 7.05 earnings per share for the current year.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, January 15th. Bel Fuse's dividend payout ratio is 6.67%.

Insider Activity at Bel Fuse

In related news, Director Peter E. Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director directly owned 750 shares in the company, valued at $219,090. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vincent Vellucci sold 1,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $235.15, for a total value of $235,150.00. Following the completion of the sale, the director directly owned 7,434 shares of the company's stock, valued at approximately $1,748,105.10. The trade was a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,893 shares of company stock valued at $476,949. Corporate insiders own 5.37% of the company's stock.

Wall Street Analysts Forecast Growth

BELFB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Bel Fuse from $330.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Zacks Research upgraded shares of Bel Fuse from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 14th. B. Riley Financial assumed coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of Bel Fuse from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $320.67.

Bel Fuse Profile

Bel Fuse Inc designs, manufactures and markets products that power, protect and connect electronic circuits. Its offerings include power supplies and converters, circuit protection components, magnetic components, connectors, cable assemblies and networking products.

The company's products serve customers in industries including telecommunications, networking, computing, industrial equipment, aerospace, defense and transportation. Bel Fuse sells products worldwide and operates across North America, Europe and Asia.

Founded in 1949, Bel Fuse has grown from a maker of electronic components into a supplier of products used in a wide range of electronic systems.

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