Bel Fuse (NASDAQ:BELFA) Sets New 12-Month High – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFA)’s share price hit a new 52-week high on Thursday . The stock traded as high as $152.90 and last traded at $152.02, with a volume of 20442 shares. The stock had previously closed at $145.41.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bel Fuse in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Bel Fuse has a consensus rating of “Buy” and an average target price of $115.00.

Bel Fuse Trading Down 2.8%

The stock has a market cap of $1.91 billion, a P/E ratio of 30.64 and a beta of 1.21. The stock’s 50-day moving average is $130.63 and its two-hundred day moving average is $111.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.06 and a quick ratio of 1.75.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.59. Bel Fuse had a net margin of 10.04% and a return on equity of 21.18%. The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $171.69 million.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. Bel Fuse’s dividend payout ratio is presently 4.87%.

Insider Activity at Bel Fuse

In related news, VP Kenneth Koon Keung Lai sold 1,936 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $144.23, for a total value of $279,229.28. Following the completion of the transaction, the vice president directly owned 8,319 shares of the company’s stock, valued at approximately $1,199,849.37. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph Berry sold 408 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $144.23, for a total transaction of $58,845.84. Following the completion of the sale, the vice president owned 17,893 shares in the company, valued at $2,580,707.39. This represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,027 shares of company stock valued at $435,034 in the last 90 days. 5.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Bel Fuse during the second quarter valued at approximately $2,341,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Bel Fuse during the 3rd quarter worth approximately $1,628,000. Citadel Advisors LLC boosted its holdings in 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 valued at $1,552,000 after acquiring an additional 10,843 shares during the period. Vanguard Group Inc. boosted its holdings in Bel Fuse by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock valued at $6,122,000 after acquiring an additional 6,408 shares during the period. Finally, American Century Companies Inc. grew its position in Bel Fuse by 19.6% in the 1st quarter. American Century Companies Inc. now owns 35,895 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after acquiring an additional 5,876 shares during the last quarter. Institutional investors own 6.01% of the company’s stock.

Bel Fuse Company 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.