Invesco Ltd. Sells 15,833 Shares of Bel Fuse Inc. $BELFB

Key Points

• Invesco Ltd. reduced its stake in Bel Fuse Inc. by 8.3%, now holding 173,981 shares valued at approximately $13 million, following the sale of 15,833 shares.
• Bel Fuse recently declared a quarterly dividend of $0.07 per share, an increase from its previous $0.06 dividend, with the payout scheduled for October 31.
• Analysts have a positive outlook on Bel Fuse, with most ratings being "Buy" or "Outperform" and a target price average of approximately $113.60.

Invesco Ltd. trimmed its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 8.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 173,981 shares of the electronics maker's stock after selling 15,833 shares during the period. Invesco Ltd. owned about 1.37% of Bel Fuse worth $13,024,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its position in 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 purchasing an additional 228 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Bel Fuse by 40.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,959 shares of the electronics maker's stock valued at $222,000 after acquiring an additional 854 shares during the period. ProShare Advisors LLC bought a new position in shares of Bel Fuse during the 4th quarter valued at approximately $240,000. Millennium Management LLC bought a new position in shares of Bel Fuse during the 4th quarter valued at approximately $305,000. Finally, Principal Financial Group Inc. grew its position in shares of Bel Fuse by 4.5% during 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 period. 58.39% of the stock is owned by institutional investors.

Insider Activity at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $128.00, for a total value of $243,200.00. Following the sale, the vice president directly owned 10,255 shares in the company, valued at $1,312,640. This represents a 15.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the 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 completion of the sale, the insider owned 14,265 shares in the company, valued at $1,812,653.55. This represents a 7.76% decrease in their ownership of the stock. 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. Corporate insiders own 5.37% of the company's stock.

Bel Fuse Stock Performance

Shares of BELFB stock opened at $132.60 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 32.50, a PEG ratio of 1.82 and a beta of 1.52. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $111.24 and its 200 day moving average is $87.65. Bel Fuse Inc. has a 12 month low of $57.99 and a 12 month high of $136.56.

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 paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, October 15th. This is an increase from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's dividend payout ratio is currently 6.86%.

Wall Street Analyst Weigh In

BELFB has been the subject of a number of research reports. Northland Securities increased their target price 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. Needham & Company LLC increased their target price 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. Robert W. Baird initiated coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an "outperform" rating and a $88.00 target price for the company. Oppenheimer set a $125.00 target price on shares of Bel Fuse and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $113.60.

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.

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