California State Teachers Retirement System Reduces Stake in Bel Fuse Inc. $BELFB

California State Teachers Retirement System reduced its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,108 shares of the electronics maker's stock after selling 109 shares during the period. California State Teachers Retirement System owned 0.09% of Bel Fuse worth $4,365,488 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Bel Fuse in the 1st quarter worth approximately $30,000. KBC Group NV bought a new position in shares of Bel Fuse in the 1st quarter worth $38,000. Signature Equity Partners LLC bought a new position in Bel Fuse in the first quarter valued at $39,000. PNC Financial Services Group Inc. grew its stake in shares of Bel Fuse by 20.2% in the first quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker's stock valued at $57,000 after acquiring an additional 48 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Bel Fuse during the first quarter worth $100,000. Institutional investors and hedge funds own 58.39% of the company's stock.

Analysts Set New Price Targets

BELFB has been the topic of a number of recent research reports. Citigroup assumed coverage on Bel Fuse in a report on Monday, July 13th. They set a "buy" rating on the stock. Bank of America started coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price target for the company. Weiss Ratings upgraded Bel Fuse from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. Northland Securities set a $326.00 price target on shares of Bel Fuse in a report on Friday, July 31st. Finally, Zacks Research raised Bel Fuse from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $324.00.

Insider Activity

In other news, Director Vincent Vellucci sold 393 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $243.61, for a total transaction of $95,738.73. Following the sale, the director directly owned 8,434 shares of the company's stock, valued at $2,054,606.74. This represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the sale, the director owned 750 shares of the company's stock, valued at approximately $219,090. This represents a 40.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.37% of the company's stock.

Bel Fuse Price Performance

BELFB stock traded up $0.82 during midday trading on Tuesday, reaching $231.22. The company had a trading volume of 131,750 shares, compared to its average volume of 228,418. The stock has a 50 day moving average price of $265.44 and a 200-day moving average price of $257.60. Bel Fuse Inc. has a 1-year low of $129.94 and a 1-year high of $335.29. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 55.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.71.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse's dividend payout ratio (DPR) is currently 6.76%.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse's product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.

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