Walleye Capital LLC Invests $256,000 in Bel Fuse Inc. $BELFB

Key Points

• Walleye Capital LLC has invested approximately $256,000 in Bel Fuse Inc. by purchasing 3,419 shares in the 1st quarter, contributing to notable institutional investor interest in the company.
• Bel Fuse recently declared an increase in its quarterly dividend to $0.07 per share, with the record date set for October 15th and a dividend yield of 0.2%.
• Wall Street analysts maintain a favorable outlook for Bel Fuse, with a consensus price target of $126.80 and multiple firms assigning "buy" or "outperform" ratings on the stock.

Walleye Capital LLC bought a new stake in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,419 shares of the electronics maker's stock, valued at approximately $256,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Bel Fuse by 147.1% in the first quarter. CWM LLC now owns 383 shares of the electronics maker's stock valued at $29,000 after buying an additional 228 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Bel Fuse during the 4th quarter worth approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bel Fuse by 40.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,959 shares of the electronics maker's stock worth $222,000 after purchasing an additional 854 shares during the period. Millennium Management LLC bought a new stake in shares of Bel Fuse in the fourth quarter worth $305,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Bel Fuse in the first quarter worth $290,000. Institutional investors and hedge funds own 58.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird lifted their target price on Bel Fuse from $130.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday. Baird R W raised Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Needham & Company LLC increased their target price 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. Wall Street Zen lowered shares of Bel Fuse from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 23rd. Finally, Oppenheimer set a $125.00 price objective on shares of Bel Fuse and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $126.80.

Bel Fuse Trading Up 0.6%

NASDAQ BELFB traded up $0.82 during mid-day trading on Friday, reaching $143.88. 171,971 shares of the stock were exchanged, compared to its average volume of 129,200. The stock has a 50 day simple moving average of $120.66 and a 200-day simple moving average of $91.62. The stock has a market cap of $1.82 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.86 and a beta of 1.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72. Bel Fuse Inc. has a one year low of $57.99 and a one year high of $145.79.

Bel Fuse Increases Dividend

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

Insider Activity

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $128.00, for a total value of $243,200.00. Following the completion of the sale, the vice president owned 10,255 shares of the company's stock, valued at approximately $1,312,640. This trade represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total value of $152,484.00. Following the sale, the insider owned 14,265 shares of the company's stock, valued at approximately $1,812,653.55. This represents a 7.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock valued at $731,804. 5.37% of the stock is currently owned by company insiders.

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.