Bel Fuse (NASDAQ:BELFA) Trading Down 6.4% – Here’s What Happened

Shares of Bel Fuse Inc. (NASDAQ:BELFA) fell 6.4% during mid-day trading on Monday . The company traded as low as $226.00 and last traded at $226.00. Approximately 2,080 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 104,853 shares. The stock had previously closed at $241.33.

Wall Street Analysts Forecast Growth

BELFA has been the subject of a number of research reports. Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Citigroup initiated coverage on shares of Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Bel Fuse currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Bel Fuse Price Performance

The company has a market capitalization of $2.76 billion, a PE ratio of 52.24 and a beta of 1.37. 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 stock has a 50 day moving average price of $245.72 and a two-hundred day moving average price of $219.90.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.The business had revenue of $178.49 million during the quarter, compared to analysts’ expectations of $172.07 million.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s payout ratio is 5.78%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Bel Fuse by 41.5% during the 1st quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock valued at $188,000 after purchasing an additional 767 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 608 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Bel Fuse by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after purchasing an additional 150 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Bel Fuse by 13.9% in the third quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock worth $6,122,000 after purchasing an additional 6,408 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Bel Fuse by 92.2% during the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 6.01% of the company’s stock.

Bel Fuse Company Profile

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.