Oliver Luxxe Assets LLC Sells 1,779 Shares of Bel Fuse Inc. $BELFB

Oliver Luxxe Assets LLC trimmed its position in Bel Fuse Inc. (NASDAQ:BELFB) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,353 shares of the electronics maker’s stock after selling 1,779 shares during the period. Oliver Luxxe Assets LLC’s holdings in Bel Fuse were worth $2,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Bel Fuse by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after buying an additional 240 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Bel Fuse by 1.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock valued at $971,000 after acquiring an additional 116 shares during the period. Rhumbline Advisers boosted its stake in Bel Fuse by 2.5% during the second quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock worth $1,560,000 after acquiring an additional 383 shares in the last quarter. Sei Investments Co. bought a new stake in Bel Fuse during the second quarter worth about $312,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Bel Fuse by 9.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock worth $386,000 after purchasing an additional 337 shares during the period. Institutional investors own 58.39% of the company’s stock.

Bel Fuse Stock Up 0.8%

NASDAQ:BELFB opened at $291.59 on Friday. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 70.43, a PEG ratio of 3.09 and a beta of 1.72. The company’s 50 day moving average price is $281.77 and its 200-day moving average price is $249.92. Bel Fuse Inc. has a 52 week low of $124.42 and a 52 week high of $335.29.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio (DPR) is currently 6.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Bel Fuse from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Oppenheimer restated an “outperform” rating and issued a $315.00 price target on shares of Bel Fuse in a research note on Friday, May 1st. B. Riley Financial started coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating for the company. Citigroup started coverage on Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating on the stock. Finally, Zacks Research raised Bel Fuse from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.00.

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.