Rhumbline Advisers Lowers Position in Bel Fuse Inc. (NASDAQ:BELFB)

Rhumbline Advisers trimmed its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,589 shares of the electronics maker’s stock after selling 838 shares during the quarter. Rhumbline Advisers owned 0.12% of Bel Fuse worth $1,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. NEOS Investment Management LLC purchased a new position in Bel Fuse in the fourth quarter worth $752,000. Paragon Associates & Paragon Associates II Joint Venture grew its stake in shares of Bel Fuse by 7.9% during the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 68,000 shares of the electronics maker’s stock worth $5,608,000 after purchasing an additional 5,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bel Fuse by 26.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,254 shares of the electronics maker’s stock worth $1,670,000 after purchasing an additional 4,204 shares during the period. Millennium Management LLC purchased a new position in shares of Bel Fuse in the 4th quarter valued at about $305,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Bel Fuse in the fourth quarter valued at about $371,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bel Fuse

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 4,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $84.03, for a total transaction of $336,120.00. Following the completion of the sale, the vice president now owns 12,155 shares of the company’s stock, valued at approximately $1,021,384.65. The trade was a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.37% of the stock is owned by insiders.

Bel Fuse Price Performance

BELFB stock opened at $89.16 on Friday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.45. The company has a quick ratio of 1.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.76. Bel Fuse Inc. has a 52-week low of $58.00 and a 52-week high of $92.61. The stock’s fifty day simple moving average is $74.28 and its 200-day simple moving average is $77.75.

Bel Fuse (NASDAQ:BELFB) last issued its quarterly earnings results on Thursday, April 24th. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.50. The firm had revenue of $152.24 million for the quarter, compared to analyst estimates of $147.93 million. Bel Fuse had a return on equity of 12.38% and a net margin of 7.69%. Equities research analysts expect that Bel Fuse Inc. will post 4.63 EPS for the current year.

Bel Fuse Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be given a $0.06 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Bel Fuse’s dividend payout ratio is presently 8.14%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Bel Fuse in a research report on Tuesday, June 10th. They set an “outperform” rating and a $88.00 target price on the stock. Baird R W raised Bel Fuse to a “strong-buy” rating in a research note on Tuesday, June 10th. Needham & Company LLC lowered their price target on Bel Fuse from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Wall Street Zen cut Bel Fuse from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Craig Hallum began coverage on Bel Fuse in a research report on Tuesday, March 25th. They set a “buy” rating and a $115.00 target price on the stock. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bel Fuse has an average rating of “Buy” and a consensus price target of $99.60.

Bel Fuse 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.