Bessemer Group Inc. Invests $19.01 Million in Bel Fuse Inc. (NASDAQ:BELFB)

Bessemer Group Inc. purchased a new stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 253,905 shares of the electronics maker's stock, valued at approximately $19,007,000. Bessemer Group Inc. owned approximately 2.02% of Bel Fuse at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Bel Fuse by 2.6% in the fourth quarter. Rhumbline Advisers now owns 16,427 shares of the electronics maker's stock valued at $1,355,000 after purchasing an additional 418 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Bel Fuse by 6.3% during the 4th quarter. Principal Financial Group Inc. now owns 4,222 shares of the electronics maker's stock worth $348,000 after purchasing an additional 249 shares in the last quarter. PFG Advisors boosted its holdings in shares of Bel Fuse by 13.6% in the 4th quarter. PFG Advisors now owns 9,299 shares of the electronics maker's stock valued at $767,000 after buying an additional 1,116 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Bel Fuse by 27.5% in the fourth quarter. Truvestments Capital LLC now owns 11,997 shares of the electronics maker's stock valued at $989,000 after buying an additional 2,588 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Bel Fuse during the fourth quarter worth $371,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 4,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $84.03, for a total transaction of $336,120.00. Following the completion of the sale, the vice president owned 12,155 shares of the company's stock, valued at $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.37% of the company's stock.

Bel Fuse Stock Performance

NASDAQ BELFB traded up $1.61 during trading on Monday, reaching $97.69. The company's stock had a trading volume of 211,781 shares, compared to its average volume of 85,686. The firm has a 50 day moving average price of $77.69 and a 200 day moving average price of $78.12. Bel Fuse Inc. has a 12 month low of $58.00 and a 12 month high of $98.55. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a current ratio of 3.31, a quick ratio of 1.83 and a debt-to-equity ratio of 0.76.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.50. The business had revenue of $152.24 million during the quarter, compared to analysts' expectations of $147.93 million. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. As a group, equities analysts anticipate that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Tuesday, July 15th. Bel Fuse's dividend payout ratio (DPR) is currently 8.14%.

Analyst Upgrades and Downgrades

BELFB has been the topic of several analyst reports. Robert W. Baird initiated coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 price target on the stock. Needham & Company LLC lowered their price target on Bel Fuse from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Finally, Craig Hallum assumed coverage on Bel Fuse in a research note on Tuesday, March 25th. They issued a "buy" rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bel Fuse presently has an average rating of "Buy" and an average target price of $99.60.

Bel Fuse Company 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.