29,770 Shares in Bel Fuse Inc. (NASDAQ:BELFB) Bought by CenterBook Partners LP

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

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Bel Fuse by 1.4% in the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker's stock valued at $68,654,000 after buying an additional 12,808 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Bel Fuse by 5.1% in the first quarter. Mackenzie Financial Corp now owns 6,584 shares of the electronics maker's stock valued at $493,000 after buying an additional 320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bel Fuse by 40.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,959 shares of the electronics maker's stock valued at $222,000 after buying an additional 854 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Bel Fuse by 2.1% in the first quarter. GW&K Investment Management LLC now owns 217,998 shares of the electronics maker's stock valued at $16,319,000 after buying an additional 4,405 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Bel Fuse in the first quarter valued at approximately $4,280,000. Institutional investors own 58.39% of the company's stock.

Bel Fuse Price Performance

Shares of NASDAQ:BELFB traded down $0.03 during trading on Friday, hitting $132.58. 156,473 shares of the company were exchanged, compared to its average volume of 176,328. The business's 50 day moving average is $100.69 and its 200-day moving average is $84.17. The company has a market capitalization of $1.68 billion, a P/E ratio of 32.50, 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 Inc. has a 1-year low of $57.99 and a 1-year high of $136.10.

Bel Fuse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. This is a boost from Bel Fuse's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, October 15th. Bel Fuse's dividend payout ratio (DPR) is currently 6.86%.

Insider Buying and Selling at Bel Fuse

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on BELFB shares. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Needham & Company LLC boosted their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Northland Securities boosted their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird assumed coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 price objective for the company. Five research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bel Fuse presently has a consensus rating of "Buy" and an average price target of $113.60.

About Bel Fuse

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.