Bel Fuse (NASDAQ:BELFA) Hits New 1-Year High – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFA)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $227.66 and last traded at $230.8090, with a volume of 2871 shares. The stock had previously closed at $217.20.

Wall Street Analyst Weigh In

BELFA has been the subject of several recent research reports. Robert W. Baird set a $250.00 target price on shares of Bel Fuse in a report on Thursday, February 19th. Weiss Ratings cut shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $250.00.

Bel Fuse Trading Up 5.8%

The company has a market cap of $2.97 billion, a price-to-earnings ratio of 50.46 and a beta of 1.25. The company has a quick ratio of 1.71, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $202.35 and its 200 day moving average is $166.68.

Bel Fuse (NASDAQ:BELFA) last released its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.10 by $0.78. The company had revenue of $175.94 million for the quarter, compared to analyst estimates of $172.01 million. Bel Fuse had a net margin of 9.11% and a return on equity of 21.78%.

Bel Fuse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, April 15th. Bel Fuse’s dividend payout ratio (DPR) is currently 5.16%.

Insider Buying and Selling at Bel Fuse

In related news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter E. Gilbert sold 4,500 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the sale, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.46% of the stock is currently owned by company insiders.

Institutional Trading of Bel Fuse

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Bel Fuse in the fourth quarter valued at about $444,000. Millennium Management LLC acquired a new stake in shares of Bel Fuse in the third quarter valued at about $358,000. HRT Financial LP acquired a new stake in shares of Bel Fuse in the fourth quarter valued at about $305,000. Qube Research & Technologies Ltd acquired a new stake in shares of Bel Fuse in the third quarter valued at about $286,000. Finally, Wells Fargo & Company MN grew its position in shares of Bel Fuse by 44.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 575 shares during the period. Institutional investors and hedge funds own 6.01% of the company’s stock.

About Bel Fuse

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.