Bel Fuse (NASDAQ:BELFB) Director Sells $235,150.00 in Stock

Key Points

• Director Vincent Vellucci sold 1,000 Bel Fuse shares at an average price of $235.15, generating $235,150 and reducing his ownership by 11.86% to 7,434 shares. He had also sold 393 shares earlier in September.
• Bel Fuse shares rose 0.7% to $231.94, while the company announced a quarterly dividend of $0.07 per share, implying an annualized yield of approximately 0.1%.
• 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; institutional investors own 58.39% of the stock.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) Director Vincent Vellucci sold 1,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $235.15, for a total transaction of $235,150.00. Following the completion of the transaction, the director owned 7,434 shares of the company's stock, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vincent Vellucci also recently made the following trade(s):

• On Wednesday, September 2nd, Vincent Vellucci sold 393 shares of Bel Fuse stock. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73.

Bel Fuse Stock Up 0.7%

Shares of NASDAQ BELFB traded up $1.55 during midday trading on Tuesday, hitting $231.94. The stock had a trading volume of 143,711 shares, compared to its average volume of 228,471. Bel Fuse Inc. has a 1 year low of $129.94 and a 1 year high of $335.29. The stock has a 50 day simple moving average of $265.44 and a 200-day simple moving average of $257.60. The company has a market capitalization of $3.35 billion, a PE ratio of 56.02, a P/E/G ratio of 2.70 and a beta of 1.71.

Bel Fuse Dividend Announcement

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

Institutional Trading of Bel Fuse

A number of hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in Bel Fuse during the 2nd quarter valued at approximately $205,000. Tidal Investments LLC increased its position in Bel Fuse by 49.4% in the second quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker's stock worth $70,540,000 after buying an additional 70,014 shares during the period. Arizona State Retirement System grew its position in Bel Fuse by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 3,322 shares of the electronics maker's stock worth $1,106,000 after purchasing an additional 426 shares during the last quarter. Nykredit A S acquired a new stake in Bel Fuse in the 2nd quarter valued at approximately $224,000. Finally, Corient Private Wealth LP bought a new position in Bel Fuse in the 2nd quarter valued at about $545,000. Hedge funds and other institutional investors own 58.39% of the company's stock.

Analyst Ratings Changes

BELFB has been the subject of several analyst reports. Wall Street Zen upgraded shares of Bel Fuse from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research raised shares of Bel Fuse from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Bank of America initiated coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price objective on the stock. Citigroup initiated coverage on shares of Bel Fuse in a research report on Monday, July 13th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Bel Fuse from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $324.00.

Bel Fuse Company Profile

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse's product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.

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