Nuveen LLC Purchases Shares of 27,634 Bel Fuse Inc. $BELFB

Key Points

• Nuveen LLC has acquired a new position in Bel Fuse Inc., purchasing 27,634 shares valued at approximately $2.07 million, bringing their ownership to 0.22% as of the latest SEC filing.
• Bel Fuse has announced an increase in its quarterly dividend from $0.06 to $0.07 per share, with the next payment scheduled for October 31st, reflecting an annualized yield of 0.2%.
• Wall Street analysts continue to be optimistic about Bel Fuse, with several research firms raising their price targets and maintaining "outperform" ratings for the company's shares.

Nuveen LLC purchased a new stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,634 shares of the electronics maker's stock, valued at approximately $2,069,000. Nuveen LLC owned approximately 0.22% of Bel Fuse as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BELFB. Vanguard Group Inc. increased its stake in Bel Fuse by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker's stock valued at $68,654,000 after purchasing an additional 12,808 shares in the last quarter. Herald Investment Management Ltd lifted its position in shares of Bel Fuse by 25.0% in the first quarter. Herald Investment Management Ltd now owns 30,000 shares of the electronics maker's stock valued at $2,239,000 after acquiring an additional 6,000 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Bel Fuse during the 1st quarter worth about $639,000. GAMMA Investing LLC grew its holdings in Bel Fuse by 6,826.9% in the 1st quarter. GAMMA Investing LLC now owns 4,641 shares of the electronics maker's stock valued at $347,000 after buying an additional 4,574 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bel Fuse by 26.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,254 shares of the electronics maker's stock worth $1,670,000 after purchasing an additional 4,204 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bel Fuse

In other news, VP Kenneth Koon Keung Lai sold 1,900 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $128.00, for a total transaction of $243,200.00. Following the completion of the transaction, the vice president directly owned 10,255 shares in the company, valued at approximately $1,312,640. The trade was a 15.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of Bel Fuse stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the transaction, the insider directly owned 14,265 shares in the company, valued at approximately $1,812,653.55. The trade was a 7.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,100 shares of company stock valued at $731,804. 5.37% of the stock is owned by corporate insiders.

Bel Fuse Stock Up 1.4%

BELFB stock traded up $1.86 during trading hours on Wednesday, hitting $137.83. The company's stock had a trading volume of 82,227 shares, compared to its average volume of 117,823. The stock has a 50 day moving average price of $117.79 and a two-hundred day moving average price of $90.33. Bel Fuse Inc. has a 12 month low of $57.99 and a 12 month high of $141.80. The company has a market capitalization of $1.74 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63.

Bel Fuse Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on BELFB shares. Needham & Company LLC increased their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Baird R W upgraded Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Northland Securities lifted 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. Wall Street Zen downgraded shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Finally, Robert W. Baird upped their price target on Bel Fuse from $130.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $126.80.

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.