Bel Fuse (NASDAQ:BELFB) Hits New 1-Year High After Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFB) reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $160.36 and last traded at $159.42, with a volume of 125176 shares changing hands. The stock had previously closed at $153.99.

The newly announced dividend which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, January 15th. Bel Fuse’s dividend payout ratio is currently 5.38%.

Analysts Set New Price Targets

BELFB has been the subject of a number of research analyst reports. Oppenheimer set a $180.00 price objective on shares of Bel Fuse and gave the company an “outperform” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bel Fuse in a report on Wednesday, October 8th. Northland Securities set a $188.00 price objective on shares of Bel Fuse in a report on Friday. Needham & Company LLC boosted their price target on shares of Bel Fuse from $130.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, Bel Fuse presently has a consensus rating of “Buy” and an average target price of $164.20.

Bel Fuse Stock Performance

The business’s fifty day moving average is $145.11 and its two-hundred day moving average is $112.44. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.01 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.86 and a beta of 1.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Bel Fuse by 52.5% in the third quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock valued at $47,000 after purchasing an additional 115 shares in the last quarter. CWM LLC lifted its position in Bel Fuse by 147.1% in the first quarter. CWM LLC now owns 383 shares of the electronics maker’s stock worth $29,000 after buying an additional 228 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Bel Fuse in the second quarter worth $50,000. State of Alaska Department of Revenue bought a new stake in Bel Fuse in the third quarter worth $78,000. Finally, BNP Paribas Financial Markets lifted its position in Bel Fuse by 60.0% in the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock worth $98,000 after buying an additional 375 shares during the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Company 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.