Truvestments Capital LLC Sells 7,782 Shares of Bel Fuse Inc. $BELFB

Key Points

• Truvestments Capital LLC has significantly reduced its holdings in Bel Fuse Inc. by 64.9% during the first quarter, now owning only 4,215 shares valued at around $316,000.
• Bel Fuse recently announced an increase in its quarterly dividend to $0.07 per share, which will be paid on October 31st, reflecting a boost from the previous dividend of $0.06.
• Several institutional investors have recently shown interest in Bel Fuse, with notable purchases including Bessemer Group Inc. acquiring a stake valued at $19 million.

Truvestments Capital LLC cut its stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 64.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,215 shares of the electronics maker's stock after selling 7,782 shares during the quarter. Truvestments Capital LLC's holdings in Bel Fuse were worth $316,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BELFB. Wells Fargo & Company MN raised its position in shares of Bel Fuse by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,840 shares of the electronics maker's stock valued at $564,000 after purchasing an additional 1,339 shares during the period. Barclays PLC raised its position in shares of Bel Fuse by 10.9% in the fourth quarter. Barclays PLC now owns 17,750 shares of the electronics maker's stock valued at $1,464,000 after purchasing an additional 1,742 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Bel Fuse by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,003 shares of the electronics maker's stock valued at $331,000 after purchasing an additional 608 shares during the period. Northern Trust Corp raised its position in shares of Bel Fuse by 11.9% in the fourth quarter. Northern Trust Corp now owns 115,503 shares of the electronics maker's stock valued at $9,526,000 after purchasing an additional 12,307 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Bel Fuse by 52.8% in the fourth quarter. Jane Street Group LLC now owns 16,331 shares of the electronics maker's stock valued at $1,347,000 after purchasing an additional 5,641 shares during the period. 58.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Northland Securities upped 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. Robert W. Baird assumed coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They issued an "outperform" rating and a $88.00 price target on the stock. Oppenheimer set a $125.00 price target on shares of Bel Fuse and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat.com, Bel Fuse currently has an average rating of "Buy" and an average price target of $113.60.

Bel Fuse Price Performance

Bel Fuse stock traded down $0.52 during trading hours on Tuesday, reaching $134.05. 30,038 shares of the stock were exchanged, compared to its average volume of 117,646. The company has a market cap of $1.70 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. Bel Fuse Inc. has a twelve month low of $57.99 and a twelve month high of $141.80. The stock has a 50 day moving average of $116.92 and a two-hundred day moving average of $90.01.

Bel Fuse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, October 15th. This is a positive change from Bel Fuse's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Bel Fuse's dividend payout ratio is currently 6.86%.

Insider Transactions at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $128.00, for a total transaction of $243,200.00. Following the sale, the vice president directly owned 10,255 shares in the company, valued at $1,312,640. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Dawson sold 1,200 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the transaction, the insider directly owned 14,265 shares of the company's stock, valued at $1,812,653.55. This trade represents a 7.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $731,804 over the last quarter. 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.