Precision Wealth Strategies LLC Takes $1.86 Million Position in Bel Fuse Inc. $BELFB

Key Points

• Precision Wealth Strategies LLC opened a new position in Bel Fuse during the first quarter, buying 9,416 shares worth about $1.86 million.
• Institutional interest in Bel Fuse appears strong, with several other funds making large purchases; overall, 58.39% of the stock is owned by institutional investors and hedge funds.
• Analysts remain mostly upbeat on BELFB, with eight Buy ratings versus one Sell and a consensus target price of $321.50, even as the stock traded up 1.4% to $270.56.

Precision Wealth Strategies LLC bought a new position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,416 shares of the electronics maker's stock, valued at approximately $1,864,000. Precision Wealth Strategies LLC owned about 0.07% of Bel Fuse as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in Bel Fuse by 364,600.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 94,822 shares of the electronics maker's stock valued at $19,253,000 after acquiring an additional 94,796 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Bel Fuse by 3,600.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,850 shares of the electronics maker's stock worth $366,000 after purchasing an additional 1,800 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Bel Fuse during the 1st quarter worth approximately $2,915,000. Fifth Third Bancorp acquired a new stake in shares of Bel Fuse during the 1st quarter worth approximately $100,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Bel Fuse during the 1st quarter valued at approximately $493,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on BELFB shares. Northland Securities set a $321.00 target price on shares of Bel Fuse in a research note on Monday, May 4th. Citigroup assumed coverage on shares of Bel Fuse in a report on Monday, July 13th. They issued a "buy" rating for the company. Oppenheimer reiterated an "outperform" rating and issued a $315.00 price objective 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 note on Friday, May 1st. Finally, Zacks Research cut Bel Fuse from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $321.50.

Bel Fuse Trading Up 1.4%

Shares of NASDAQ:BELFB opened at $270.56 on Friday. The business's 50 day moving average price is $280.50 and its 200-day moving average price is $240.21. Bel Fuse Inc. has a 1 year low of $99.88 and a 1 year high of $335.29. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 61.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73.

Bel Fuse Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.