Teacher Retirement System of Texas Makes New $404,000 Investment in Bel Fuse Inc. (NASDAQ:BELFB)

Teacher Retirement System of Texas acquired a new position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 recently modified their holdings of BELFB. KLP Kapitalforvaltning AS purchased a new stake in Bel Fuse during the 4th quarter worth approximately $148,000. ProShare Advisors LLC purchased a new stake in Bel Fuse during the 4th quarter worth approximately $240,000. Integrated Quantitative Investments LLC purchased a new stake in Bel Fuse during the 4th quarter worth approximately $298,000. Millennium Management LLC purchased a new stake in Bel Fuse during the 4th quarter worth approximately $305,000. Finally, Price T Rowe Associates Inc. MD grew its position in Bel Fuse by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,003 shares of the electronics maker's stock worth $331,000 after purchasing an additional 608 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of Bel Fuse from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Northland Securities boosted their target price 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. Robert W. Baird started coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 target price for the company. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Finally, Craig Hallum started coverage on shares of Bel Fuse in a research note on Tuesday, March 25th. They issued a "buy" rating and a $115.00 target price for the company. One research 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, the stock presently has an average rating of "Buy" and an average price target of $106.60.

Insider Activity

In other news, VP Kenneth Koon Keung Lai sold 4,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $84.03, for a total transaction of $336,120.00. Following the sale, the vice president owned 12,155 shares of the company's stock, valued at approximately $1,021,384.65. This represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Trading Up 2.0%

Shares of BELFB traded up $2.03 during mid-day trading on Monday, reaching $103.72. The stock had a trading volume of 149,414 shares, compared to its average volume of 90,432. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.31 and a quick ratio of 1.83. Bel Fuse Inc. has a 52-week low of $58.00 and a 52-week high of $105.79. The business's fifty day moving average is $86.38 and its 200 day moving average is $79.72. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 1.44 and a beta of 1.51.

Bel Fuse (NASDAQ:BELFB - Get Free Report) last announced its 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. The company had revenue of $152.24 million during the quarter, compared to analyst estimates of $147.93 million. Bel Fuse had a net margin of 7.69% and a return on equity of 12.38%. On average, sell-side analysts predict that Bel Fuse Inc. will post 4.63 EPS for the current fiscal year.

Bel Fuse Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given 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 0.23%. Bel Fuse's dividend payout ratio is presently 8.14%.

About Bel Fuse

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.