Bel Fuse (NASDAQ:BELFA) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Bel Fuse (NASDAQ:BELFA) released its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10, FiscalAI reports. The business had revenue of $178.49 million for the quarter, compared to analysts’ expectations of $171.74 million. Bel Fuse had a return on equity of 21.78% and a net margin of 9.11%.

Bel Fuse Stock Performance

BELFA traded up $2.82 during mid-day trading on Wednesday, reaching $229.56. 17,791 shares of the company traded hands, compared to its average volume of 66,949. The stock has a market capitalization of $2.91 billion, a P/E ratio of 49.37 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 fifty day moving average price is $205.48 and its 200-day moving average price is $173.11. Bel Fuse has a 52-week low of $60.97 and a 52-week high of $255.04.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s payout ratio is currently 5.16%.

Insiders Place Their Bets

In other Bel Fuse news, Director Peter E. Gilbert sold 4,500 shares of the business’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 completion of the sale, the director directly owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the business’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 SEC filing for this sale provides additional information. 4.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bel Fuse

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Bel Fuse by 3.9% in the 3rd quarter. Rhumbline Advisers now owns 3,196 shares of the scientific and technical instruments company’s stock worth $372,000 after purchasing an additional 121 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bel Fuse by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after purchasing an additional 150 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Bel Fuse by 92.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 153 shares in the last quarter. Barclays PLC increased its stake in shares of Bel Fuse by 12.3% in the 4th quarter. Barclays PLC now owns 2,562 shares of the scientific and technical instruments company’s stock worth $389,000 after purchasing an additional 281 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Bel Fuse by 1.8% in the 4th quarter. State Street Corp now owns 21,706 shares of the scientific and technical instruments company’s stock worth $3,295,000 after purchasing an additional 378 shares in the last quarter. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on BELFA shares. Weiss Ratings cut Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Robert W. Baird set a $250.00 price objective on Bel Fuse in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $250.00.

Bel Fuse Company Profile

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.