California State Teachers Retirement System Grows Position in Bel Fuse Inc. $BELFB

Key Points

• California State Teachers Retirement System increased its Bel Fuse stake by 37.2% in the first quarter, bringing its holdings to 13,217 shares valued at approximately $2.6 million. Institutional investors collectively own 58.39% of the company.
• Bel Fuse shares opened at $284.21, down 2.5%, with a market capitalization of $3.62 billion and a 12-month trading range of $124.42 to $335.29.
• Analysts remain broadly optimistic, with seven Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $324 price target. The company also declared a quarterly dividend of $0.07 per share, yielding 0.1%.

California State Teachers Retirement System increased its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,217 shares of the electronics maker's stock after acquiring an additional 3,585 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Bel Fuse worth $2,617,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BELFB. Farther Finance Advisors LLC grew its position in shares of Bel Fuse by 365.6% during the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. State of Wyoming bought a new stake in shares of Bel Fuse in the first quarter worth about $30,000. KBC Group NV purchased a new stake in shares of Bel Fuse in the first quarter worth about $38,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Bel Fuse in the fourth quarter worth about $33,000. Finally, Signature Equity Partners LLC purchased a new stake in shares of Bel Fuse in the first quarter worth about $39,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Trading Down 2.5%

BELFB opened at $284.21 on Tuesday. The stock has a 50-day moving average of $282.05 and a 200 day moving average of $250.86. Bel Fuse Inc. has a 12 month low of $124.42 and a 12 month high of $335.29. The firm has a market cap of $3.62 billion, a P/E ratio of 68.65, a P/E/G ratio of 3.09 and a beta of 1.72.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse's dividend payout ratio is presently 6.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BELFB. Bank of America initiated coverage on Bel Fuse in a report on Tuesday, July 14th. They set a "buy" rating and a $330.00 price target for the company. Weiss Ratings cut Bel Fuse from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Needham & Company LLC increased their target price on Bel Fuse from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Robert W. Baird set a $293.00 target price on shares of Bel Fuse in a report on Friday, May 1st. Finally, Citigroup started coverage on shares of Bel Fuse in a research report on Monday, July 13th. They issued a "buy" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $324.00.

Bel Fuse Company 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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