Sei Investments Co. Purchases 5,076 Shares of Bel Fuse Inc. $BELFA

Key Points

• Sei Investments more than doubled its Bel Fuse position in the first quarter, purchasing 5,076 additional shares to own 9,681 shares valued at approximately $1.75 million. Institutional investors collectively hold 6.01% of the company.
• Bel Fuse reported a quarterly earnings beat, posting $2.76 in EPS versus the $2.34 consensus estimate and revenue of $210.69 million, ahead of expectations.
• The stock opened at $227.70, down 2.5%, while analysts maintain a “Moderate Buy” consensus with a $250 price target. The company also declared a quarterly dividend of $0.06 per share.

Sei Investments Co. grew its position in shares of Bel Fuse Inc. (NASDAQ:BELFA - Free Report) by 110.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,681 shares of the scientific and technical instruments company's stock after buying an additional 5,076 shares during the period. Sei Investments Co. owned 0.08% of Bel Fuse worth $1,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in Bel Fuse by 3.9% in the 3rd quarter. Rhumbline Advisers now owns 3,196 shares of the scientific and technical instruments company's stock worth $372,000 after acquiring an additional 121 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Bel Fuse by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company's stock valued at $274,000 after purchasing an additional 150 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Bel Fuse by 92.2% during the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 153 shares during the period. Barclays PLC boosted its position in Bel Fuse by 12.3% during the fourth quarter. Barclays PLC now owns 2,562 shares of the scientific and technical instruments company's stock worth $389,000 after purchasing an additional 281 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Bel Fuse by 6,000.0% in the first quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company's stock worth $55,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 6.01% of the company's stock.

Bel Fuse Stock Down 2.5%

Shares of NASDAQ:BELFA opened at $227.70 on Tuesday. The stock has a market cap of $2.90 billion, a PE ratio of 58.24 and a beta of 1.40. The company's fifty day moving average is $241.63 and its 200 day moving average is $223.85. Bel Fuse Inc. has a 52 week low of $107.51 and a 52 week high of $293.51.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.42. The business had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.24 annualized dividend and a yield of 0.1%. Bel Fuse's dividend payout ratio is currently 6.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BELFA. Weiss Ratings cut shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 29th. Citigroup initiated coverage on Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Bel Fuse presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.00.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.

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