State Street Corp Boosts Holdings in Bel Fuse Inc. $BELFA

Key Points

• State Street increased its Bel Fuse stake by 55.4% in the second quarter, bringing its holdings to 44,736 shares worth about $13.0 million. Institutional investors and hedge funds collectively own 6.01% of the company.
• Bel Fuse exceeded quarterly expectations, reporting earnings per share of $2.76 versus the $2.34 consensus and revenue of $210.69 million. Analysts maintain a “Moderate Buy” consensus with a $250 average price target.
• The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 0.1% yield. Meanwhile, two directors sold shares, and insiders own 4.75% of the stock.

State Street Corp raised its position in Bel Fuse Inc. (NASDAQ:BELFA - Free Report) by 55.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,736 shares of the scientific and technical instruments company's stock after acquiring an additional 15,946 shares during the quarter. State Street Corp owned approximately 0.31% of Bel Fuse worth $13,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Sei Investments Co. increased its position in Bel Fuse by 110.2% during the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company's stock worth $1,745,000 after buying an additional 5,076 shares during the last quarter. Renaissance Technologies LLC boosted its position in Bel Fuse by 62.3% during the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock worth $12,299,000 after purchasing an additional 26,200 shares during the period. Strs Ohio acquired a new position in shares of Bel Fuse in the first quarter valued at $396,000. Aristeia Capital L.L.C. lifted its position in Bel Fuse by 21.9% during the fourth quarter. Aristeia Capital L.L.C. now owns 11,094 shares of the scientific and technical instruments company's stock worth $1,684,000 after acquiring an additional 1,994 shares during the last quarter. Finally, Congruence Capital LLC acquired a new stake in Bel Fuse during the fourth quarter worth approximately $414,000. 6.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Vincent Vellucci sold 393 shares of the company's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the completion of the transaction, the director directly owned 8,434 shares in the company, valued at approximately $2,054,606.74. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the sale, the director directly owned 750 shares in the company, valued at approximately $219,090. This trade represents a 40.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.75% of the company's stock.

Bel Fuse Stock Down 0.0%

BELFA stock opened at $203.10 on Friday. The company's 50-day moving average price is $215.60 and its two-hundred day moving average price is $225.65. The firm has a market cap of $2.93 billion, a P/E ratio of 51.94 and a beta of 1.39. Bel Fuse Inc. has a 12 month low of $110.67 and a 12 month high of $293.51.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.42. The company had revenue of $210.69 million during the quarter, compared to the consensus estimate 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. Shareholders of record on Thursday, October 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse's dividend payout ratio (DPR) is currently 6.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup assumed coverage on Bel Fuse in a research report on Monday, July 13th. They issued a "buy" rating on the stock. Weiss Ratings cut Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Bel Fuse currently has an average rating of "Moderate Buy" and a consensus target price of $250.00.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of products that support the safe transmission, protection and management of electrical power and signals. The company serves original equipment manufacturers, distributors and other customers across markets including networking and telecommunications, data centers, industrial equipment, consumer electronics, automotive, medical and aerospace applications.

Its product portfolio includes circuit protection devices such as fuses and resettable protection components; power products including power supplies, converters and transformers; and interconnect products such as connectors, cable assemblies and related components.

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