Key Points
- Director Vincent Vellucci sold 393 Bel Fuse shares at an average price of $243.61, totaling $95,738.73. His remaining stake is 8,434 shares, a 4.45% reduction in ownership.
- Bel Fuse shares opened at $243.79, with a $3.52 billion market capitalization and a 52-week range of $129.94 to $335.29. Institutional investors and hedge funds own 58.39% of the company.
- The company declared a quarterly dividend of $0.07 per share, equivalent to $0.28 annually and a 0.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $324.00.
Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report) Director Vincent Vellucci sold 393 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total value of $95,738.73. Following the completion of the transaction, the director owned 8,434 shares in the company, valued at $2,054,606.74. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Bel Fuse Stock Up 1.6%
BELFB stock opened at $243.79 on Friday. The company has a market cap of $3.52 billion, a P/E ratio of 58.89, a PEG ratio of 2.58 and a beta of 1.71. Bel Fuse Inc. has a twelve month low of $129.94 and a twelve month high of $335.29. The business has a fifty day moving average of $271.77 and a 200-day moving average of $256.91.
Bel Fuse Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse's dividend payout ratio (DPR) is presently 6.76%.
Hedge Funds Weigh In On Bel Fuse
Several hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP bought a new position in Bel Fuse during the second quarter worth about $545,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Bel Fuse in the 2nd quarter valued at approximately $1,249,000. California State Teachers Retirement System raised its position in shares of Bel Fuse by 32,929.3% in the 2nd quarter. California State Teachers Retirement System now owns 4,365,488 shares of the electronics maker's stock valued at $1,453,882,000 after acquiring an additional 4,352,271 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Bel Fuse in the 2nd quarter valued at approximately $464,000. Finally, AXQ Capital LP bought a new position in Bel Fuse during the 2nd quarter worth approximately $231,000. Institutional investors and hedge funds own 58.39% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Bel Fuse from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Citigroup initiated coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a "buy" rating for the company. Northland Securities set a $326.00 price target on shares of Bel Fuse in a research note on Friday, July 31st. Bank of America assumed coverage on shares of Bel Fuse in a report on Tuesday, July 14th. They issued a "buy" rating and a $330.00 price objective on the stock. Finally, Weiss Ratings cut shares of Bel Fuse from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $324.00.
View Our Latest Report on Bel Fuse
Bel Fuse Company Profile
(
Get Free Report)
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.
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