Bel Fuse (NASDAQ:BELFA) Director Peter Gilbert Sells 500 Shares

Bel Fuse Inc. (NASDAQ:BELFA) Director Peter Gilbert sold 500 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the sale, the director directly owned 750 shares in the company, valued at $219,090. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bel Fuse Stock Up 3.2%

Shares of BELFA stock opened at $242.89 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 62.12 and a beta of 1.40. Bel Fuse Inc. has a 12 month low of $107.51 and a 12 month high of $293.51. The stock has a 50-day moving average price of $241.33 and a 200 day moving average price of $225.06.

Bel Fuse (NASDAQ:BELFA) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.34 by $0.42. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%. The company had revenue of $210.69 million during the quarter, compared to analysts’ expectations of $206.39 million.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is 6.14%.

Institutional Trading of Bel Fuse

Several hedge funds have recently added to or reduced their stakes in BELFA. FNY Investment Advisers LLC lifted its holdings in Bel Fuse by 16.9% during the second quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company’s stock worth $360,000 after acquiring an additional 179 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock worth $12,299,000 after acquiring an additional 26,200 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock worth $1,745,000 after acquiring an additional 5,076 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bel Fuse by 6,000.0% during the first quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock worth $55,000 after purchasing an additional 300 shares during the period. Finally, Abel Hall LLC acquired a new stake in shares of Bel Fuse during the first quarter worth about $205,000. Institutional investors and hedge funds own 6.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup started coverage on Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.00.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.