CenterBook Partners LP Reduces Stock Position in Bel Fuse Inc. $BELFB

CenterBook Partners LP cut its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,986 shares of the electronics maker’s stock after selling 6,600 shares during the quarter. CenterBook Partners LP owned about 0.08% of Bel Fuse worth $1,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Bel Fuse by 139.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 151 shares during the period. Federated Hermes Inc. lifted 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 worth $47,000 after buying an additional 115 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Bel Fuse in the third quarter valued at approximately $78,000. BNP Paribas Financial Markets grew its stake in Bel Fuse by 60.0% during the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock valued at $98,000 after acquiring an additional 375 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Bel Fuse by 437.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker’s stock worth $101,000 after acquiring an additional 845 shares during the period. 58.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on BELFB shares. Oppenheimer set a $180.00 price target on shares of Bel Fuse and gave the company an “outperform” rating in a report on Friday, October 31st. Zacks Research lowered Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Wall Street Zen cut Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 2nd. Robert W. Baird set a $170.00 price target on Bel Fuse in a report on Friday, October 31st. Finally, Northland Securities set a $266.00 price target on Bel Fuse in a research report on Thursday. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Bel Fuse currently has an average rating of “Moderate Buy” and an average price target of $196.20.

Bel Fuse Trading Up 2.2%

Shares of BELFB stock opened at $235.04 on Friday. The business has a 50-day moving average price of $198.04 and a two-hundred day moving average price of $164.30. Bel Fuse Inc. has a 12-month low of $57.99 and a 12-month high of $248.61. The company has a quick ratio of 1.75, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.98 billion, a P/E ratio of 47.87, a price-to-earnings-growth ratio of 2.44 and a beta of 1.56.

Bel Fuse Profile

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.