Bessemer Group Inc. Sells 69,594 Shares of Bel Fuse Inc. $BELFB

Key Points

• Bessemer Group Inc. cut its Bel Fuse stake by 33.6% in the first quarter, selling 69,594 shares and ending with 137,318 shares valued at about $27.2 million.
• Institutional ownership remains high, with hedge funds and asset managers holding 58.39% of Bel Fuse shares; several firms, including Price T. Rowe and Janus Henderson, increased their positions.
• Bel Fuse shares were up 1.4% and the company continues to receive generally positive analyst coverage, including a consensus rating of “Moderate Buy” with an average price target of $321.50.

Bessemer Group Inc. reduced its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,318 shares of the electronics maker's stock after selling 69,594 shares during the period. Bessemer Group Inc. owned about 1.08% of Bel Fuse worth $27,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BELFB. Price T Rowe Associates Inc. MD grew its stake in shares of Bel Fuse by 74.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker's stock valued at $141,517,000 after purchasing an additional 355,563 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Bel Fuse by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker's stock worth $105,016,000 after buying an additional 99,834 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Bel Fuse by 45.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker's stock worth $88,039,000 after buying an additional 161,736 shares during the period. Wasatch Advisors LP lifted its position in shares of Bel Fuse by 16.6% during the 1st quarter. Wasatch Advisors LP now owns 478,709 shares of the electronics maker's stock worth $94,775,000 after buying an additional 68,222 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Bel Fuse by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker's stock valued at $45,460,000 after buying an additional 2,803 shares in the last quarter. Institutional investors own 58.39% of the company's stock.

Bel Fuse Stock Up 1.4%

NASDAQ BELFB opened at $270.56 on Friday. The firm has a market cap of $3.44 billion, a PE ratio of 61.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.68. Bel Fuse Inc. has a one year low of $99.88 and a one year high of $335.29. The stock's 50 day simple moving average is $280.50 and its 200 day simple moving average is $240.21. 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 Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on BELFB. Robert W. Baird set a $293.00 price target on Bel Fuse in a research report on Friday, May 1st. B. Riley Financial began coverage on Bel Fuse in a report on Tuesday. They set a "buy" rating for the company. Weiss Ratings upgraded shares of Bel Fuse from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. assumed coverage on shares of Bel Fuse in a report on Wednesday, June 10th. They issued an "overweight" rating and a $370.00 target price on the stock. Finally, Oppenheimer reiterated an "outperform" rating and set a $315.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Eight 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 a consensus rating of "Moderate Buy" and an average target price of $321.50.

Bel Fuse Profile

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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