6,000 Shares in Bel Fuse Inc. $BELFB Bought by Formula Growth Ltd.

Formula Growth Ltd. purchased a new stake in Bel Fuse Inc. (NASDAQ:BELFB) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,000 shares of the electronics maker’s stock, valued at approximately $586,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Makaira Partners LLC bought a new stake in shares of Bel Fuse in the 1st quarter worth about $18,415,000. Bessemer Group Inc. lifted its position in shares of Bel Fuse by 28.3% during the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock worth $31,827,000 after purchasing an additional 71,895 shares during the last quarter. Tema Etfs LLC grew its stake in Bel Fuse by 351.3% in the first quarter. Tema Etfs LLC now owns 38,417 shares of the electronics maker’s stock worth $2,876,000 after purchasing an additional 29,905 shares in the last quarter. Nuveen LLC bought a new stake in Bel Fuse in the first quarter valued at about $2,069,000. Finally, SG Capital Management LLC bought a new stake in Bel Fuse in the second quarter valued at about $2,074,000. 58.39% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Price Performance

Shares of BELFB opened at $166.00 on Friday. The company has a market cap of $2.10 billion, a P/E ratio of 31.92, a PEG ratio of 1.82 and a beta of 1.55. The stock has a fifty day moving average price of $150.02 and a 200 day moving average price of $125.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.06 and a quick ratio of 1.75. Bel Fuse Inc. has a 12 month low of $57.99 and a 12 month high of $167.04.

Bel Fuse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, January 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. Bel Fuse’s dividend payout ratio is currently 5.38%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Bel Fuse in a research note on Wednesday, October 8th. Northland Securities set a $188.00 target price on shares of Bel Fuse in a research note on Friday, October 31st. Wall Street Zen raised shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Needham & Company LLC lifted their price target on shares of Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat, Bel Fuse has an average rating of “Buy” and an average price target of $164.20.

Insider Activity

In other Bel Fuse news, VP Kenneth Koon Keung Lai sold 1,936 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.23, for a total value of $279,229.28. Following the completion of the transaction, the vice president owned 8,319 shares in the company, valued at approximately $1,199,849.37. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph Berry sold 408 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.23, for a total transaction of $58,845.84. Following the completion of the sale, the vice president owned 17,893 shares in the company, valued at $2,580,707.39. The trade was a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,027 shares of company stock valued at $435,034 in the last 90 days. Insiders own 5.37% of the company’s stock.

About Bel Fuse

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.