Thrivent Financial for Lutherans Reduces Stake in Bel Fuse Inc. $BELFB

Thrivent Financial for Lutherans reduced its position in Bel Fuse Inc. (NASDAQ:BELFB) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 236,005 shares of the electronics maker’s stock after selling 9,243 shares during the period. Thrivent Financial for Lutherans’ holdings in Bel Fuse were worth $40,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BELFB. Farther Finance Advisors LLC boosted its stake in shares of Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bel Fuse by 139.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after buying an additional 151 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Bel Fuse by 52.5% in the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after buying an additional 115 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Bel Fuse in the 3rd quarter worth $78,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock worth $98,000 after buying an additional 375 shares during the last quarter. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Price Performance

NASDAQ BELFB opened at $256.72 on Friday. The company has a market capitalization of $3.27 billion, a PE ratio of 58.48, a price-to-earnings-growth ratio of 2.56 and a beta of 1.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The business’s fifty day moving average is $234.69 and its 200 day moving average is $202.11. Bel Fuse Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $308.27.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse’s payout ratio is 6.38%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BELFB shares. Needham & Company LLC raised their price target on Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded Bel Fuse from a “buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Finally, Robert W. Baird set a $293.00 target price on Bel Fuse in a research report on Friday, May 1st. Five equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Insider Buying and Selling at Bel Fuse

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter E. Gilbert sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director directly owned 15,047 shares in the company, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.37% of the stock is currently owned by insiders.

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.