Beck Mack & Oliver LLC Purchases New Stake in Bel Fuse Inc. $BELFB

Beck Mack & Oliver LLC purchased a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,500 shares of the electronics maker’s stock, valued at approximately $494,000.

A number of other large investors have also added to or reduced their stakes in BELFB. Jones Financial Companies Lllp raised its stake in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 151 shares during the last quarter. Federated Hermes Inc. grew its stake 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 purchasing an additional 115 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Bel Fuse in the third quarter worth about $78,000. BNP Paribas Financial Markets increased its holdings in Bel Fuse by 60.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock valued at $98,000 after purchasing an additional 375 shares during the period. 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 valued at $101,000 after purchasing an additional 845 shares during the period. Institutional investors own 58.39% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter E. Gilbert sold 4,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total value of $1,074,375.00. Following the sale, the director directly owned 15,047 shares of the company’s stock, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $7,948,278.00. Additional details regarding this sale are available in the official SEC disclosure. 5.37% of the stock is owned by company insiders.

Analyst Ratings Changes

BELFB has been the subject of several research analyst reports. Weiss Ratings cut Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 25th. Needham & Company LLC boosted their target price on Bel Fuse from $212.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded Bel Fuse from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Northland Securities set a $266.00 price target on Bel Fuse in a research note on Thursday, February 19th. Finally, Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Bel Fuse presently has an average rating of “Moderate Buy” and an average price target of $196.20.

Bel Fuse Stock Performance

Bel Fuse stock opened at $197.65 on Friday. The stock’s 50 day simple moving average is $210.06 and its two-hundred day simple moving average is $172.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 3.02. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 2.01 and a beta of 1.52. Bel Fuse Inc. has a fifty-two week low of $57.99 and a fifty-two week high of $248.61.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, April 15th. Bel Fuse’s dividend payout ratio (DPR) is 5.70%.

Bel Fuse Company 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.