Wasatch Advisors LP Grows Stake in Bel Fuse Inc. $BELFB

Key Points

• Wasatch Advisors increased its Bel Fuse stake by 2.2% in the second quarter, owning 489,414 shares valued at approximately $163 million, or 3.85% of the company. Institutional investors and hedge funds collectively own 58.39% of the stock.
• Bel Fuse shares opened at $290.10, up 2.1%, with a market capitalization of $3.69 billion. The stock trades at a P/E ratio of 70.07 and remains below its 52-week high of $335.29.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $324. The company also declared a quarterly dividend of $0.07 per share, yielding approximately 0.1%.

Wasatch Advisors LP lifted its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 489,414 shares of the electronics maker's stock after acquiring an additional 10,705 shares during the period. Wasatch Advisors LP owned approximately 3.85% of Bel Fuse worth $162,994,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bel Fuse by 74.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker's stock worth $141,517,000 after purchasing an additional 355,563 shares during the period. Janus Henderson Group PLC boosted its holdings in Bel Fuse by 22.7% in the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker's stock valued at $150,587,000 after purchasing an additional 140,804 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Bel Fuse by 45.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker's stock valued at $88,039,000 after purchasing an additional 161,736 shares during the last quarter. Geode Capital Management LLC grew its position in Bel Fuse by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker's stock worth $45,460,000 after purchasing an additional 2,803 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bel Fuse by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 256,833 shares of the electronics maker's stock valued at $50,851,000 after buying an additional 1,992 shares during the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Stock Up 2.1%

BELFB stock opened at $290.10 on Wednesday. Bel Fuse Inc. has a 52-week low of $124.42 and a 52-week high of $335.29. The firm has a market cap of $3.69 billion, a P/E ratio of 70.07, a PEG ratio of 3.01 and a beta of 1.72. The company's 50-day simple moving average is $282.47 and its 200-day simple moving average is $251.48.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse's dividend payout ratio (DPR) is presently 6.76%.

Analysts Set New Price Targets

BELFB has been the subject of several analyst reports. B. Riley Financial initiated coverage on Bel Fuse in a report on Tuesday, July 14th. They issued a "buy" rating for the company. Northland Securities set a $326.00 target price on Bel Fuse in a report on Friday, July 31st. Oppenheimer reiterated an "outperform" rating and set a $315.00 price target on shares of Bel Fuse in a research report on Friday, May 1st. Wall Street Zen raised Bel Fuse from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research upgraded Bel Fuse from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $324.00.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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