Congruence Capital LLC Acquires Shares of 55,759 Bel Fuse Inc. $BELFB

Congruence Capital LLC acquired a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 55,759 shares of the electronics maker’s stock, valued at approximately $9,458,000. Bel Fuse makes up about 3.5% of Congruence Capital LLC’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wasatch Advisors LP lifted its position in Bel Fuse by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker’s stock valued at $69,631,000 after acquiring an additional 174,969 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Bel Fuse in the fourth quarter worth approximately $42,680,000. State Street Corp lifted its holdings in shares of Bel Fuse by 2.4% in the fourth quarter. State Street Corp now owns 246,959 shares of the electronics maker’s stock valued at $41,892,000 after purchasing an additional 5,832 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Bel Fuse by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 206,912 shares of the electronics maker’s stock valued at $35,098,000 after purchasing an additional 637 shares in the last quarter. 58.39% of the stock is owned by institutional investors.

Bel Fuse Trading Down 0.9%

Shares of BELFB stock opened at $293.87 on Friday. The company has a quick ratio of 1.73, a current ratio of 3.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.74 billion, a P/E ratio of 66.94, a PEG ratio of 2.95 and a beta of 1.70. The company has a 50 day moving average of $262.09 and a 200-day moving average of $219.05. Bel Fuse Inc. has a 12-month low of $83.93 and a 12-month high of $308.27.

Bel Fuse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse’s dividend payout ratio (DPR) is currently 6.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BELFB. Wall Street Zen downgraded Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Oppenheimer reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. JPMorgan Chase & Co. began coverage on shares of Bel Fuse in a report on Wednesday. They issued an “overweight” rating and a $370.00 target price for the company. Needham & Company LLC raised their price target on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $293.00 price target on shares of Bel Fuse in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bel Fuse has an average rating of “Moderate Buy” and an average price target of $319.80.

Bel Fuse 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.