Bel Fuse Inc. (NASDAQ:BELFB) Sees Large Drop in Short Interest

Bel Fuse Inc. (NASDAQ:BELFB) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 295,400 shares, a decline of 6.3% from the March 31st total of 315,100 shares. Based on an average daily trading volume, of 128,500 shares, the short-interest ratio is presently 2.3 days.

Bel Fuse Stock Performance

NASDAQ:BELFB opened at $58.49 on Thursday. The company has a current ratio of 4.21, a quick ratio of 2.70 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $746.33 million, a price-to-earnings ratio of 9.85 and a beta of 1.45. The firm’s fifty day simple moving average is $57.34 and its 200 day simple moving average is $58.91. Bel Fuse has a twelve month low of $39.13 and a twelve month high of $74.75.

Bel Fuse (NASDAQ:BELFB) last posted its quarterly earnings data on Wednesday, February 21st. The electronics maker reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.07). The firm had revenue of $140.01 million during the quarter, compared to analysts’ expectations of $152.86 million. Bel Fuse had a net margin of 12.62% and a return on equity of 23.58%. As a group, equities research analysts expect that Bel Fuse will post 4.7 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.28 dividend on an annualized basis and a yield of 0.48%. Bel Fuse’s payout ratio is currently 4.71%.

Wall Street Analysts Forecast Growth

BELFB has been the topic of several recent research reports. StockNews.com upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Northland Securities initiated coverage on shares of Bel Fuse in a report on Thursday, January 11th. They set an “outperform” rating and a $83.00 target price on the stock. Finally, Needham & Company LLC reduced their target price on shares of Bel Fuse from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday.

Insider Activity

In other news, Director Vincent Vellucci sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $56.70, for a total transaction of $56,700.00. Following the completion of the sale, the director now directly owns 7,392 shares of the company’s stock, valued at approximately $419,126.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.37% of the company’s stock.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BELFB. Covestor Ltd boosted its position in Bel Fuse by 26.5% in the 3rd quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock valued at $48,000 after buying an additional 212 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Bel Fuse during the third quarter worth about $48,000. New York State Teachers Retirement System lifted its position in shares of Bel Fuse by 373.5% during the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 747 shares during the last quarter. Tucker Asset Management LLC bought a new position in shares of Bel Fuse during the third quarter worth about $59,000. Finally, AJOVista LLC bought a new position in shares of Bel Fuse during the fourth quarter worth about $73,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.