Janney Montgomery Scott LLC Reduces Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Janney Montgomery Scott LLC cut its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 90.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,749 shares of the electronics maker's stock after selling 36,503 shares during the period. Janney Montgomery Scott LLC's holdings in Bel Fuse were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Bel Fuse by 6.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,222 shares of the electronics maker's stock worth $348,000 after purchasing an additional 249 shares in the last quarter. PFG Advisors grew its position in Bel Fuse by 13.6% in the 4th quarter. PFG Advisors now owns 9,299 shares of the electronics maker's stock worth $767,000 after purchasing an additional 1,116 shares in the last quarter. Truvestments Capital LLC grew its position in Bel Fuse by 27.5% in the 4th quarter. Truvestments Capital LLC now owns 11,997 shares of the electronics maker's stock worth $989,000 after purchasing an additional 2,588 shares in the last quarter. Intech Investment Management LLC bought a new stake in Bel Fuse in the 4th quarter worth about $371,000. Finally, Summit Global Investments grew its position in Bel Fuse by 34.7% in the 4th quarter. Summit Global Investments now owns 8,209 shares of the electronics maker's stock worth $677,000 after purchasing an additional 2,114 shares in the last quarter. 58.39% of the stock is owned by institutional investors.

Bel Fuse Stock Up 1.0%

Shares of NASDAQ:BELFB traded up $1.04 during trading on Wednesday, hitting $102.24. The stock had a trading volume of 100,910 shares, compared to its average volume of 88,873. Bel Fuse Inc. has a 12 month low of $58.00 and a 12 month high of $102.77. The company has a market capitalization of $1.30 billion, a PE ratio of 29.72, a PEG ratio of 1.44 and a beta of 1.51. The firm's fifty day moving average is $82.09 and its 200 day moving average is $78.88. The company has a quick ratio of 1.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.76.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its earnings results on Thursday, April 24th. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.50. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. The firm had revenue of $152.24 million during the quarter, compared to analyst estimates of $147.93 million. Analysts anticipate that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Bel Fuse's payout ratio is currently 8.14%.

Insider Buying and Selling at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the sale, the vice president owned 12,155 shares in the company, valued at $1,021,384.65. This represents a 24.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BELFB has been the subject of several research analyst reports. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Craig Hallum started coverage on shares of Bel Fuse in a report on Tuesday, March 25th. They issued a "buy" rating and a $115.00 price objective for the company. Robert W. Baird started coverage on shares of Bel Fuse in a report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price objective for the company. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Northland Securities raised their price objective on shares of Bel Fuse from $93.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $106.60.

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.