Bel Fuse (NASDAQ:BELFB) Sets New 52-Week High Following Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFB) hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $160.36 and last traded at $159.42, with a volume of 125176 shares changing hands. The stock had previously closed at $153.99.

The newly announced dividend which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. Bel Fuse’s dividend payout ratio (DPR) is currently 5.38%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Robert W. Baird set a $170.00 price objective on shares of Bel Fuse in a research note on Friday. Wall Street Zen upgraded shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Oppenheimer set a $180.00 price objective on shares of Bel Fuse and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bel Fuse in a research note on Wednesday, October 8th. Finally, Northland Securities set a $188.00 price objective on shares of Bel Fuse in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $164.20.

Bel Fuse Trading Down 2.7%

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 1.86 and a beta of 1.55. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The company’s 50 day simple moving average is $145.41 and its two-hundred day simple moving average is $113.03.

Institutional Investors Weigh In On Bel Fuse

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of Bel Fuse by 3.3% during the third quarter. Arizona State Retirement System now owns 3,112 shares of the electronics maker’s stock valued at $439,000 after buying an additional 99 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Bel Fuse by 6.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker’s stock valued at $156,000 after buying an additional 100 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Bel Fuse by 3.0% during the second quarter. Janney Montgomery Scott LLC now owns 3,862 shares of the electronics maker’s stock valued at $377,000 after buying an additional 113 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Bel Fuse by 52.5% during the third quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock valued at $47,000 after buying an additional 115 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Bel Fuse by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock valued at $971,000 after buying an additional 116 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

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.