Key Points
- Director Vincent Vellucci sold 393 Bel Fuse shares for approximately $95,739 at an average price of $243.61, reducing his holdings by 4.45% to 8,434 shares.
- Bel Fuse reported quarterly EPS of $2.76, beating estimates by $0.42, while revenue of $210.69 million also exceeded analyst expectations.
- The company declared a quarterly dividend of $0.06 per share, equal to $0.24 annually and a 0.1% yield; analysts maintain a “Moderate Buy” consensus with a $250 price target.
Bel Fuse Inc. (NASDAQ:BELFA - Get Free Report) Director Vincent Vellucci sold 393 shares of Bel Fuse stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the completion of the sale, the director owned 8,434 shares in the company, valued at approximately $2,054,606.74. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Bel Fuse Trading Up 0.4%
Shares of Bel Fuse stock opened at $202.42 on Friday. The company's fifty day simple moving average is $227.13 and its two-hundred day simple moving average is $226.31. The company has a market cap of $2.92 billion, a P/E ratio of 51.77 and a beta of 1.39. Bel Fuse Inc. has a 12-month low of $110.67 and a 12-month high of $293.51.
Bel Fuse (NASDAQ:BELFA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $210.69 million during the quarter, compared to analyst estimates of $206.39 million.
Bel Fuse Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse's dividend payout ratio is presently 6.14%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on BELFA shares. Weiss Ratings cut Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 26th. Citigroup started coverage on Bel Fuse in a research report on Monday, July 13th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $250.00.
Check Out Our Latest Report on Bel Fuse
Institutional Trading of Bel Fuse
A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Bel Fuse by 772,162.1% in the 2nd quarter. California State Teachers Retirement System now owns 671,868 shares of the scientific and technical instruments company's stock worth $195,668,000 after buying an additional 671,781 shares during the period. FNY Investment Advisers LLC lifted its position in Bel Fuse by 16.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company's stock valued at $360,000 after acquiring an additional 179 shares during the period. Renaissance Technologies LLC lifted its position in Bel Fuse by 62.3% during 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 acquiring an additional 26,200 shares during the period. Sei Investments Co. boosted its stake in Bel Fuse by 110.2% during 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. Finally, PNC Financial Services Group Inc. boosted its stake in 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 acquiring an additional 300 shares in the last quarter. Institutional investors own 6.01% of the company's stock.
Bel Fuse Company Profile
(
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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