Hodges Capital Management Inc. Has $2.86 Million Stake in Bel Fuse Inc. $BELFB

Key Points

• Hodges Capital Management Inc. cut its stake in Bel Fuse Inc. by 63.5% during Q1, now holding 38,240 shares worth approximately $2.86 million.
• Institutional ownership in Bel Fuse is high, with 58.39% of shares owned by various institutional investors, including significant increases from CWM LLC and Zurcher Kantonalbank.
• Bel Fuse recently announced a quarterly dividend increase to $0.07 per share, which will be paid on October 31st, raising its annualized yield to 0.2%.

Hodges Capital Management Inc. trimmed its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 63.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,240 shares of the electronics maker's stock after selling 66,405 shares during the period. Hodges Capital Management Inc. owned about 0.30% of Bel Fuse worth $2,863,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Bel Fuse by 147.1% in the 1st quarter. CWM LLC now owns 383 shares of the electronics maker's stock valued at $29,000 after buying an additional 228 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Bel Fuse by 40.6% in the 1st 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 last quarter. Aristides Capital LLC bought a new stake in Bel Fuse in the 1st quarter valued at about $225,000. ProShare Advisors LLC bought a new stake in Bel Fuse in the 4th quarter valued at about $240,000. Finally, Walleye Capital LLC bought a new stake in Bel Fuse in the 1st quarter valued at about $256,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BELFB. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a report on Tuesday, June 10th. Robert W. Baird upped their price target on shares of Bel Fuse from $130.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Northland Securities increased their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Needham & Company LLC raised their price target on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat.com, Bel Fuse currently has an average rating of "Buy" and a consensus target price of $126.80.

Bel Fuse Stock Up 1.8%

BELFB opened at $148.32 on Friday. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $150.67. The firm has a market capitalization of $1.88 billion, a P/E ratio of 36.35, a PEG ratio of 1.77 and a beta of 1.59. The company's 50-day moving average is $124.39 and its 200 day moving average is $93.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72.

Bel Fuse Increases Dividend

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

Insiders Place Their Bets

In related news, insider Stephen Dawson sold 1,200 shares of Bel Fuse stock in a transaction 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 sale, the insider directly owned 14,265 shares in the company, valued at approximately $1,812,653.55. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kenneth Koon Keung Lai sold 1,900 shares of Bel Fuse stock in a transaction on Friday, August 1st. The stock was sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president owned 10,255 shares in the company, valued at $1,312,640. This trade represents a 15.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.37% of the company's stock.

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.

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