Police & Firemen s Retirement System of New Jersey Buys 358 Shares of Bel Fuse Inc. $BELFB

Police & Firemen s Retirement System of New Jersey raised its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 17.2% during the second quarter, Holdings Channel reports. The firm owned 2,437 shares of the electronics maker’s stock after buying an additional 358 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Bel Fuse were worth $238,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BELFB. Geode Capital Management LLC boosted its stake in shares of Bel Fuse by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker’s stock valued at $31,451,000 after purchasing an additional 8,243 shares in the last quarter. Boston Partners raised its stake in Bel Fuse by 34.8% in the second quarter. Boston Partners now owns 51,307 shares of the electronics maker’s stock worth $5,012,000 after buying an additional 13,234 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Bel Fuse in the second quarter worth about $208,000. PFG Advisors boosted its position in Bel Fuse by 3.3% during the 2nd quarter. PFG Advisors now owns 6,281 shares of the electronics maker’s stock valued at $614,000 after acquiring an additional 199 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Bel Fuse by 15.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 14,065 shares of the electronics maker’s stock worth $1,374,000 after acquiring an additional 1,900 shares during the period. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Up 1.2%

NASDAQ:BELFB opened at $152.69 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05. The firm has a market cap of $1.93 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.86 and a beta of 1.59. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $167.04. The firm has a 50-day simple moving average of $148.10 and a two-hundred day simple moving average of $121.99.

Bel Fuse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, January 15th. Bel Fuse’s payout ratio is presently 5.38%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BELFB shares. Needham & Company LLC raised their target price on Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Oppenheimer set a $180.00 price objective on Bel Fuse and gave the company an “outperform” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Robert W. Baird set a $170.00 price target on shares of Bel Fuse in a research report on Friday, October 31st. Finally, Zacks Research raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat, Bel Fuse presently has a consensus rating of “Buy” and an average price target of $164.20.

Insider Activity at Bel Fuse

In other news, VP Joseph Berry sold 408 shares of the company’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 transaction, the vice president directly owned 17,893 shares of the company’s stock, valued at $2,580,707.39. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kenneth Koon Keung Lai sold 1,936 shares of the 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 sale, the vice president directly owned 8,319 shares in the company, valued at $1,199,849.37. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,027 shares of company stock worth $435,034 over the last ninety days. 5.37% of the stock is currently owned by insiders.

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.