Key Points
- Director Peter Gilbert sold 500 Bel Fuse shares at an average price of $292.12, generating $146,060 and reducing his direct holdings by 40% to 750 shares.
- Bel Fuse reported quarterly EPS of $2.76, exceeding analyst expectations of $2.34, while revenue of $210.69 million also topped estimates. Shares opened at $242.89, with a market capitalization of $3.51 billion.
- The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 0.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $250.
Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) Director Peter Gilbert sold 500 shares of the stock in a transaction on Wednesday, August 12th. The stock was 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 of the company's stock, valued at $219,090. This represents a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Bel Fuse Stock Up 3.2%
Shares of NASDAQ:BELFA 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 company's fifty day simple moving average is $241.33 and its 200 day simple moving average is $225.06.
Bel Fuse (NASDAQ:BELFA - Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.42. The firm had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%.
Bel Fuse Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse's payout ratio is 6.14%.
Institutional Trading of Bel Fuse
A number of large investors have recently added to or reduced their stakes in BELFA. Hound Partners LLC bought a new position in shares of Bel Fuse in the 4th quarter valued at about $5,714,000. Renaissance Technologies LLC raised its holdings in shares of Bel Fuse by 62.3% in the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company's stock valued at $12,299,000 after purchasing an additional 26,200 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bel Fuse in the 3rd quarter valued at about $1,628,000. Citadel Advisors LLC lifted its stake in Bel Fuse by 434.9% in the 3rd quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company's stock valued at $1,552,000 after purchasing an additional 10,843 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Bel Fuse by 314.2% during the fourth quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company's stock worth $1,932,000 after purchasing an additional 9,656 shares during the period. Institutional investors and hedge funds own 6.01% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on BELFA. Weiss Ratings upgraded Bel Fuse from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Citigroup began coverage on Bel Fuse in a research note on Monday, July 13th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $250.00.
Read Our Latest Report on Bel Fuse
About Bel Fuse
(
Get Free Report)
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.
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