Teacher Retirement System of Texas Buys New Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Teacher Retirement System of Texas purchased a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,391 shares of the electronics maker's stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BELFB. Bessemer Group Inc. purchased a new position in Bel Fuse in the 1st quarter valued at about $19,007,000. Brown Advisory Inc. acquired a new position in shares of Bel Fuse during the fourth quarter valued at approximately $11,807,000. Janus Henderson Group PLC increased its stake in shares of Bel Fuse by 55.4% during the fourth quarter. Janus Henderson Group PLC now owns 398,123 shares of the electronics maker's stock valued at $32,821,000 after acquiring an additional 141,951 shares during the period. Portolan Capital Management LLC grew its position in Bel Fuse by 72.5% in the fourth quarter. Portolan Capital Management LLC now owns 208,470 shares of the electronics maker's stock worth $17,193,000 after buying an additional 87,612 shares during the last quarter. Finally, Potrero Capital Research LLC grew its position in Bel Fuse by 107.1% during the 4th quarter. Potrero Capital Research LLC now owns 145,986 shares of the electronics maker's stock worth $12,039,000 after purchasing an additional 75,483 shares in the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Needham & Company LLC cut their target price on shares of Bel Fuse from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Northland Securities increased their price target on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Baird R W raised shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Craig Hallum assumed coverage on shares of Bel Fuse in a report on Tuesday, March 25th. They set a "buy" rating and a $115.00 target price for the company. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bel Fuse currently has an average rating of "Buy" and an average target price of $106.60.

Bel Fuse Stock Performance

Shares of Bel Fuse stock opened at $101.32 on Friday. Bel Fuse Inc. has a 1 year low of $58.00 and a 1 year high of $105.35. The firm's 50-day moving average is $85.80 and its 200 day moving average is $79.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.31 and a quick ratio of 1.83. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.40 and a beta of 1.51.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The electronics maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.50. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. The business had revenue of $152.24 million during the quarter, compared to the consensus estimate of $147.93 million. Sell-side analysts anticipate that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Bel Fuse's dividend payout ratio is currently 8.14%.

Insider Activity at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 4,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $84.03, for a total value of $336,120.00. Following the completion of the sale, the vice president owned 12,155 shares of the company's stock, valued at approximately $1,021,384.65. This trade represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.37% of the company's stock.

Bel Fuse 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.

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