Vincent Vellucci Sells 393 Shares of Bel Fuse (NASDAQ:BELFA) Stock

Key Points

• Director Vincent Vellucci sold 393 Bel Fuse shares for approximately $95,739, reducing his direct ownership by 4.45% to 8,434 shares.
• Bel Fuse reported quarterly earnings of $2.76 per share and revenue of $210.69 million, exceeding analyst estimates of $2.34 per share and $206.39 million, respectively.
• The company declared a quarterly dividend of $0.06 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $250.

Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) Director Vincent Vellucci sold 393 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the completion of the transaction, the director directly owned 8,434 shares of the company's stock, valued at approximately $2,054,606.74. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bel Fuse Trading Up 1.0%

Shares of NASDAQ:BELFA traded up $2.04 during trading on Friday, hitting $203.69. 45,034 shares of the stock were exchanged, compared to its average volume of 114,005. The company has a fifty day moving average price of $228.39 and a two-hundred day moving average price of $226.48. The company has a market cap of $2.94 billion, a PE ratio of 52.10 and a beta of 1.39. Bel Fuse Inc. has a 12-month low of $110.67 and a 12-month high of $293.51.

Bel Fuse (NASDAQ:BELFA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.42. The firm had revenue of $210.69 million during the quarter, compared to the consensus estimate of $206.39 million. Bel Fuse had a return on equity of 20.55% and a net margin of 7.21%.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse's dividend payout ratio (DPR) is currently 6.14%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently made changes to their positions in BELFA. California State Teachers Retirement System lifted its position in shares of Bel Fuse by 772,162.1% in the second quarter. California State Teachers Retirement System now owns 671,868 shares of the scientific and technical instruments company's stock valued at $195,668,000 after acquiring an additional 671,781 shares in the last quarter. Hound Partners LLC acquired a new position in Bel Fuse in the 4th quarter valued at about $5,714,000. Renaissance Technologies LLC lifted its holdings in Bel Fuse by 62.3% in the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock valued at $12,299,000 after purchasing an additional 26,200 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Bel Fuse in the 3rd quarter valued at about $1,628,000. Finally, Citadel Advisors LLC boosted its stake in shares of Bel Fuse by 434.9% during the 3rd quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company's stock worth $1,552,000 after purchasing an additional 10,843 shares during the last quarter. 6.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on BELFA shares. Weiss Ratings cut shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 26th. Citigroup assumed coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bel Fuse has an average rating of "Moderate Buy" and an average price target of $250.00.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.

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