Bank of New York Mellon Corp lowered its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB – Free Report) by 11.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 61,813 shares of the electronics maker’s stock after selling 7,673 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bel Fuse were worth $5,098,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Bel Fuse by 26.5% during the third quarter. Victory Capital Management Inc. now owns 40,321 shares of the electronics maker’s stock worth $3,166,000 after purchasing an additional 8,442 shares during the period. Thrivent Financial for Lutherans raised its holdings in Bel Fuse by 7.2% during the third quarter. Thrivent Financial for Lutherans now owns 179,503 shares of the electronics maker’s stock worth $14,093,000 after buying an additional 12,007 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Bel Fuse by 15.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,789 shares of the electronics maker’s stock valued at $8,934,000 after buying an additional 15,296 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Bel Fuse during the third quarter valued at about $1,677,000. Finally, Truvestments Capital LLC increased its position in shares of Bel Fuse by 11.8% during the third quarter. Truvestments Capital LLC now owns 9,409 shares of the electronics maker’s stock worth $739,000 after acquiring an additional 990 shares in the last quarter. Institutional investors own 58.39% of the company’s stock.
Bel Fuse Price Performance
Bel Fuse stock opened at $75.23 on Tuesday. Bel Fuse Inc. has a 52 week low of $53.74 and a 52 week high of $92.61. The company’s 50 day moving average price is $80.67 and its two-hundred day moving average price is $79.31. The stock has a market cap of $943.31 million, a P/E ratio of 23.01, a P/E/G ratio of 1.24 and a beta of 1.12. The company has a quick ratio of 1.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.80.
Bel Fuse Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.28 annualized dividend and a yield of 0.37%. Bel Fuse’s payout ratio is currently 8.56%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on BELFB shares. Oppenheimer initiated coverage on Bel Fuse in a research note on Tuesday, December 17th. They set an “outperform” rating and a $105.00 price target for the company. Needham & Company LLC lifted their target price on Bel Fuse from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, StockNews.com lowered Bel Fuse from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $100.00.
Check Out Our Latest Stock Analysis on BELFB
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.
Recommended Stories
- Five stocks we like better than Bel Fuse
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Can TikTok Stock Picks Really Make You Rich?
- Short Selling – The Pros and Cons
- The “Quality” Rotation: Back to Basics Investing
- What is the Nikkei 225 index?
- Occidental Petroleum: 4 Reasons to Love These Prices
Want to see what other hedge funds are holding BELFB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bel Fuse Inc. (NASDAQ:BELFB – Free Report).
Receive News & Ratings for Bel Fuse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bel Fuse and related companies with MarketBeat.com's FREE daily email newsletter.