Hodges Capital Management Inc. Decreases Holdings 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. reduced its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 63.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,240 shares of the electronics maker's stock after selling 66,405 shares during the period. Hodges Capital Management Inc. owned approximately 0.30% of Bel Fuse worth $2,863,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bel Fuse by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker's stock worth $459,000 after buying an additional 240 shares during the last quarter. Bosun Asset Management LLC boosted its position in Bel Fuse by 6.4% in the 1st quarter. Bosun Asset Management LLC now owns 21,442 shares of the electronics maker's stock valued at $1,605,000 after buying an additional 1,289 shares during the period. Apis Capital Advisors LLC boosted its position in Bel Fuse by 67.2% in the 1st quarter. Apis Capital Advisors LLC now owns 21,400 shares of the electronics maker's stock valued at $1,602,000 after buying an additional 8,600 shares during the period. Expect Equity LLC lifted its position in shares of Bel Fuse by 6.8% in the 1st quarter. Expect Equity LLC now owns 33,211 shares of the electronics maker's stock worth $2,486,000 after purchasing an additional 2,120 shares during the period. Finally, State of Wyoming lifted its position in shares of Bel Fuse by 189.9% in the 1st quarter. State of Wyoming now owns 4,114 shares of the electronics maker's stock worth $308,000 after purchasing an additional 2,695 shares during the period. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Performance

Shares of NASDAQ:BELFB traded down $3.00 during midday trading on Wednesday, reaching $145.79. The company's stock had a trading volume of 14,168 shares, compared to its average volume of 116,979. The stock has a fifty day moving average of $127.11 and a 200 day moving average of $94.54. Bel Fuse Inc. has a twelve month low of $57.99 and a twelve month high of $150.67. The firm has a market capitalization of $1.85 billion, a PE ratio of 35.73, a P/E/G ratio of 1.78 and a beta of 1.59. 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 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 a boost from Bel Fuse's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, October 15th. Bel Fuse's payout ratio is currently 6.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BELFB shares. Oppenheimer upped their price target on shares of Bel Fuse from $140.00 to $175.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen lowered shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Robert W. Baird boosted their price objective on shares of Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Finally, Northland Securities upped their price target on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $136.80.

Insiders Place Their Bets

In related news, insider Stephen Dawson sold 1,200 shares of the 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 sale, the insider directly owned 14,265 shares of the company's stock, 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 SEC, which is available at this hyperlink. Also, VP Kenneth Koon Keung Lai sold 1,900 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $128.00, for a total transaction of $243,200.00. Following the sale, the vice president directly 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. Corporate insiders own 5.37% of the company's stock.

Bel Fuse 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.