Massachusetts Financial Services Co. MA Has $23.58 Million Holdings in Bel Fuse Inc. $BELFB

Key Points

• Massachusetts Financial Services cut its stake in Bel Fuse by 43.2% in Q4, selling 105,515 shares and ending the period with 138,997 shares worth $23.58 million (about 1.10% of the company); institutional investors now own 58.39% of the stock.
• Corporate insiders made large sales: Director Peter E. Gilbert sold 4,500 shares (~$1.07M) and CEO Farouq Salem Ali Tuweiq sold 33,967 shares (~$7.95M), leaving insiders with 5.37% ownership.
• Bel Fuse declared a quarterly dividend of $0.07 per share (annualized $0.28, ~0.1% yield) and trades near recent highs (~$236) with a market cap of $2.99B, a P/E of ~48, and a consensus "Moderate Buy" analyst rating (average target $216.50).

Massachusetts Financial Services Co. MA lessened its holdings in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 43.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,997 shares of the electronics maker's stock after selling 105,515 shares during the period. Massachusetts Financial Services Co. MA owned about 1.10% of Bel Fuse worth $23,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wasatch Advisors LP raised its holdings in shares of Bel Fuse by 33.6% in the 2nd quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock worth $27,745,000 after acquiring an additional 71,390 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Bel Fuse by 66.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 245,248 shares of the electronics maker's stock worth $34,584,000 after purchasing an additional 98,178 shares in the last quarter. Invesco Ltd. grew its position in Bel Fuse by 27.1% in the 3rd quarter. Invesco Ltd. now owns 174,583 shares of the electronics maker's stock worth $24,620,000 after purchasing an additional 37,175 shares in the last quarter. Portolan Capital Management LLC grew its position in Bel Fuse by 97.9% in the 3rd quarter. Portolan Capital Management LLC now owns 123,766 shares of the electronics maker's stock worth $17,453,000 after purchasing an additional 61,240 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Bel Fuse in the 3rd quarter worth about $14,537,000. Institutional investors and hedge funds own 58.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Peter E. Gilbert sold 4,500 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the transaction, the director owned 15,047 shares of the company's stock, valued at $3,592,471.25. This represents a 23.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The SEC filing for this sale provides additional information. 5.37% of the stock is owned by corporate insiders.

Bel Fuse Trading Down 0.5%

Shares of BELFB stock opened at $236.04 on Thursday. The company has a 50 day moving average of $217.68 and a 200-day moving average of $184.58. The company has a quick ratio of 1.71, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. Bel Fuse Inc. has a 12-month low of $64.00 and a 12-month high of $248.61. The firm has a market cap of $2.99 billion, a P/E ratio of 48.07, a PEG ratio of 2.41 and a beta of 1.56.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse's dividend payout ratio (DPR) is presently 5.70%.

Wall Street Analysts Forecast Growth

BELFB has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Bel Fuse from a "buy" rating to a "hold" rating in a research report on Monday, March 16th. Needham & Company LLC upped their price objective on shares of Bel Fuse from $212.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Weiss Ratings downgraded shares of Bel Fuse from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, February 25th. Northland Securities set a $266.00 price objective on shares of Bel Fuse in a research report on Thursday, February 19th. Finally, Zacks Research downgraded shares of Bel Fuse from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.50.

Bel Fuse Company 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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