CenterBook Partners LP Buys New Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Key Points

• CenterBook Partners LP has acquired a new stake in Bel Fuse Inc. (NASDAQ:BELFB), purchasing 29,770 shares valued at approximately $2.2 million, representing about 0.24% of the company's stock as reported in their recent SEC filing.
• Bel Fuse has announced a dividend increase to $0.07 per share, up from $0.06, with a payout date set for October 31st, 2023, reflecting an annualized yield of 0.2%.
• Research analysts have recently revised their ratings for Bel Fuse, with several upgrades pushing the average consensus price target to $113.60, indicating a positive outlook for the company's stock.

CenterBook Partners LP bought a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,770 shares of the electronics maker's stock, valued at approximately $2,229,000. CenterBook Partners LP owned approximately 0.24% of Bel Fuse as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Bel Fuse by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,411 shares of the electronics maker's stock valued at $330,000 after acquiring an additional 189 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Bel Fuse by 0.6% in the 4th quarter. Russell Investments Group Ltd. now owns 38,617 shares of the electronics maker's stock worth $3,185,000 after buying an additional 215 shares during the last quarter. CWM LLC increased its holdings in shares of Bel Fuse by 147.1% in the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock worth $29,000 after buying an additional 228 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bel Fuse by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,887 shares of the electronics maker's stock worth $486,000 after buying an additional 234 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Bel Fuse by 4.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,891 shares of the electronics maker's stock worth $568,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Bel Fuse Price Performance

Shares of NASDAQ BELFB traded down $1.82 during trading on Monday, hitting $130.77. The company had a trading volume of 47,050 shares, compared to its average volume of 116,091. The stock has a fifty day simple moving average of $100.69 and a two-hundred day simple moving average of $84.21. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $136.10. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.52. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63.

Bel Fuse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, October 15th. This is a positive change from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's dividend payout ratio (DPR) is presently 6.86%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Bel Fuse from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Robert W. Baird assumed coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price objective on the stock. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Needham & Company LLC raised their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $113.60.

Insider Activity

In related news, VP Kenneth Koon Keung Lai sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $84.03, for a total transaction of $336,120.00. Following the sale, the vice president directly owned 12,155 shares of the company's stock, valued at $1,021,384.65. This represents a 24.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $127.07, for a total transaction of $152,484.00. Following the transaction, the insider owned 14,265 shares of the company's stock, valued at $1,812,653.55. This trade represents a 7.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock worth $731,804 over the last quarter. 5.37% of the stock is currently owned by company insiders.

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.