Invesco Ltd. Cuts Holdings in 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. decreased its holdings in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,981 shares of the electronics maker's stock after selling 15,833 shares during the quarter. Invesco Ltd. owned 1.37% of Bel Fuse worth $13,024,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Koss Olinger Consulting LLC purchased a new position in Bel Fuse in the 1st quarter worth about $639,000. Herald Investment Management Ltd boosted its position in Bel Fuse by 25.0% in the first quarter. Herald Investment Management Ltd now owns 30,000 shares of the electronics maker's stock worth $2,239,000 after purchasing an additional 6,000 shares during the last quarter. CenterBook Partners LP purchased a new position in Bel Fuse in the first quarter worth about $2,229,000. Vanguard Group Inc. boosted its position in Bel Fuse by 1.4% in the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker's stock worth $68,654,000 after purchasing an additional 12,808 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Bel Fuse by 5.1% in the first quarter. Mackenzie Financial Corp now owns 6,584 shares of the electronics maker's stock worth $493,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen cut Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Needham & Company LLC raised their target price on Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Northland Securities raised their target price on Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Robert W. Baird initiated coverage on Bel Fuse in a research report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 target price on the stock. Finally, Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $113.60.

Bel Fuse Price Performance

Shares of Bel Fuse stock traded down $1.73 during trading hours on Friday, hitting $134.56. The company's stock had a trading volume of 90,388 shares, compared to its average volume of 143,158. The business has a 50 day moving average price of $116.10 and a two-hundred day moving average price of $89.54. Bel Fuse Inc. has a 12-month low of $57.99 and a 12-month high of $141.80. The company has a market cap of $1.70 billion, a PE ratio of 32.98, a PEG ratio of 1.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05.

Bel Fuse Increases Dividend

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

Insider Activity

In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the transaction, the vice president directly owned 12,155 shares in the company, valued at $1,021,384.65. The trade was a 24.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $127.07, for a total value of $152,484.00. Following the completion of the transaction, the insider owned 14,265 shares in the company, valued at $1,812,653.55. The trade was a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $731,804 over the last 90 days. Company insiders own 5.37% of the company's stock.

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.