Legato Capital Management LLC Reduces Holdings in Bel Fuse Inc. $BELFB

Key Points

• Legato Capital Management cut its Bel Fuse stake by 38.5% in the fourth quarter, selling 7,776 shares and ending with 12,403 shares worth about $2.1 million.
• Several analysts remain constructive on Bel Fuse, with five Buy ratings and one Hold; the consensus view is Moderate Buy and the average price target is $307.25.
• Insiders were also active sellers, including Director Peter E. Gilbert and CEO Farouq Salem Ali Tuweiq, while Bel Fuse recently raised its quarterly dividend to $0.07 per share.

Legato Capital Management LLC decreased its position in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 38.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,403 shares of the electronics maker's stock after selling 7,776 shares during the period. Legato Capital Management LLC owned about 0.10% of Bel Fuse worth $2,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BELFB. Farther Finance Advisors LLC increased its stake in Bel Fuse by 365.6% during the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker's stock worth $25,000 after buying an additional 117 shares during the period. Jones Financial Companies Lllp increased its position in shares of Bel Fuse by 139.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker's stock worth $37,000 after purchasing an additional 151 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Bel Fuse by 52.5% in the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker's stock worth $47,000 after purchasing an additional 115 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Bel Fuse in the 3rd quarter worth about $78,000. Finally, BNP Paribas Financial Markets increased its position in shares of Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker's stock worth $98,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Northland Securities set a $321.00 target price on shares of Bel Fuse in a research report on Monday, May 4th. Oppenheimer reissued an "outperform" rating and issued a $315.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Robert W. Baird set a $293.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Bel Fuse from a "buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, Weiss Ratings raised shares of Bel Fuse from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Bel Fuse currently has an average rating of "Moderate Buy" and an average price target of $307.25.

Insider Buying and Selling

In other news, Director Peter E. Gilbert sold 4,500 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the completion of the sale, the director directly owned 15,047 shares of the company's stock, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.37% of the company's stock.

Bel Fuse Trading Up 3.7%

Bel Fuse stock opened at $270.01 on Friday. The firm has a 50-day moving average price of $240.84 and a two-hundred day moving average price of $205.79. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 2.69 and a beta of 1.75. Bel Fuse Inc. has a 52-week low of $69.00 and a 52-week high of $308.27. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse's dividend payout ratio is currently 6.38%.

Bel Fuse Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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