Bel Fuse (NASDAQ:BELFA) Trading Up 6.8% After Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFA)’s share price rose 6.8% during trading on Friday after the company announced a dividend. The company traded as high as $88.39 and last traded at $89.20. Approximately 5,985 shares were traded during trading, a decline of 37% from the average daily volume of 9,437 shares. The stock had previously closed at $83.51.

The newly announced dividend which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.06 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.24 annualized dividend and a yield of 0.28%. Bel Fuse’s payout ratio is presently 7.77%.

Bel Fuse Trading Up 1.4 %

The stock’s 50 day moving average price is $87.32 and its 200-day moving average price is $92.29. The company has a quick ratio of 2.71, a current ratio of 2.92 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.06 billion, a PE ratio of 27.39 and a beta of 1.23.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.44. The firm had revenue of $149.86 million during the quarter, compared to analysts’ expectations of $126.41 million. Bel Fuse had a net margin of 7.66% and a return on equity of 18.61%.

Institutional Trading of Bel Fuse

A number of hedge funds and other institutional investors have recently modified their holdings of BELFA. Wells Fargo & Company MN increased its stake in shares of Bel Fuse by 26.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 223 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Bel Fuse by 129.2% in the third quarter. MetLife Investment Management LLC now owns 1,098 shares of the scientific and technical instruments company’s stock worth $109,000 after purchasing an additional 619 shares in the last quarter. Bank of America Corp DE grew its stake in Bel Fuse by 41.8% during the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company’s stock valued at $148,000 after acquiring an additional 486 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Bel Fuse by 632.5% during the third quarter. BNP Paribas Financial Markets now owns 2,073 shares of the scientific and technical instruments company’s stock valued at $206,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Barclays PLC grew its stake in Bel Fuse by 278.9% during the third quarter. Barclays PLC now owns 2,311 shares of the scientific and technical instruments company’s stock valued at $230,000 after acquiring an additional 1,701 shares in the last quarter. 6.01% 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 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.