Empowered Funds LLC Purchases Shares of 1,774 Bel Fuse Inc. $BELFB

Empowered Funds LLC purchased a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,774 shares of the electronics maker’s stock, valued at approximately $351,000.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Bel Fuse by 74.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock worth $141,517,000 after purchasing an additional 355,563 shares during the last quarter. Janus Henderson Group PLC raised its position in Bel Fuse by 19.2% during the 4th quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker’s stock worth $105,016,000 after purchasing an additional 99,834 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Bel Fuse by 45.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock worth $88,039,000 after purchasing an additional 161,736 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Bel Fuse by 16.6% during the 1st quarter. Wasatch Advisors LP now owns 478,709 shares of the electronics maker’s stock worth $94,775,000 after buying an additional 68,222 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Bel Fuse by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker’s stock worth $45,460,000 after buying an additional 2,803 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Stock Up 1.5%

BELFB stock opened at $294.45 on Thursday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 71.12, a PEG ratio of 3.07 and a beta of 1.72. Bel Fuse Inc. has a 12-month low of $124.42 and a 12-month high of $335.29. The company’s fifty day simple moving average is $282.76 and its 200 day simple moving average is $252.14.

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is 6.76%.

Analysts Set New Price Targets

BELFB has been the topic of a number of analyst reports. Bank of America began coverage on Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 price target on the stock. Northland Securities set a $326.00 price objective on Bel Fuse in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. B. Riley Financial began coverage on Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.00.

Bel Fuse Profile

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.