Kovitz Investment Group Partners LLC Takes Position in Bel Fuse Inc. $BELFB

Key Points

• Kovitz Investment Group Partners LLC has acquired 3,871 shares of Bel Fuse Inc., valued at approximately $290,000, according to their recent SEC filing.
• Bel Fuse has seen significant interest from other institutional investors, with Bessemer Group Inc. investing approximately $19 million and Janus Henderson Group PLC increasing their stake by 55.4%.
• The company recently announced a quarterly dividend increase, with a payment of $0.07 scheduled for October 31st, up from the previous $0.06, reflecting a positive trend in dividend policy.

Kovitz Investment Group Partners LLC bought a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,871 shares of the electronics maker's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BELFB. Wells Fargo & Company MN lifted its position in Bel Fuse by 24.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,840 shares of the electronics maker's stock valued at $564,000 after purchasing an additional 1,339 shares in the last quarter. Barclays PLC lifted its position in Bel Fuse by 10.9% during the fourth quarter. Barclays PLC now owns 17,750 shares of the electronics maker's stock valued at $1,464,000 after purchasing an additional 1,742 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Bel Fuse by 17.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,003 shares of the electronics maker's stock valued at $331,000 after purchasing an additional 608 shares in the last quarter. Northern Trust Corp lifted its position in Bel Fuse by 11.9% during the fourth quarter. Northern Trust Corp now owns 115,503 shares of the electronics maker's stock valued at $9,526,000 after purchasing an additional 12,307 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Bel Fuse by 52.8% in the fourth quarter. Jane Street Group LLC now owns 16,331 shares of the electronics maker's stock valued at $1,347,000 after acquiring an additional 5,641 shares in the last quarter. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Price Performance

Shares of NASDAQ:BELFB traded down $4.13 during mid-day trading on Thursday, reaching $136.29. The stock had a trading volume of 93,126 shares, compared to its average volume of 149,041. The business's 50 day moving average price is $115.22 and its 200 day moving average price is $89.17. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. Bel Fuse Inc. has a 1 year low of $57.99 and a 1 year high of $141.80. The company has a market cap of $1.73 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 1.82 and a beta of 1.52.

Bel Fuse Increases Dividend

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

Insider Activity at Bel Fuse

In other Bel Fuse news, insider Stephen Dawson sold 1,200 shares of the business's 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 sale, the insider directly owned 14,265 shares of the company's stock, valued at $1,812,653.55. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kenneth Koon Keung Lai sold 1,900 shares of the business's stock in a transaction that occurred 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 directly owned 10,255 shares in the company, valued at $1,312,640. The trade was a 15.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $731,804 over the last three months. 5.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BELFB. Oppenheimer set a $125.00 price objective on Bel Fuse and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Robert W. Baird began coverage on Bel Fuse in a research report on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price objective on the stock. Needham & Company LLC boosted their price objective on Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen downgraded Bel Fuse from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Finally, Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, Bel Fuse currently has an average rating of "Buy" and an average target price 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.