Bel Fuse (NASDAQ:BELFB) Sees Strong Trading Volume – Here’s What Happened

Shares of Bel Fuse Inc. (NASDAQ:BELFB) saw an uptick in trading volume on Thursday . 226,184 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 185,548 shares.The stock last traded at $265.1250 and had previously closed at $266.92.

Analyst Ratings Changes

Several research firms have recently commented on BELFB. Northland Securities set a $321.00 price target on shares of Bel Fuse in a report on Monday, May 4th. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings upgraded shares of Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $315.00 price objective on shares of Bel Fuse in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Bel Fuse presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

Bel Fuse Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The stock has a market cap of $3.27 billion, a P/E ratio of 58.48, a price-to-earnings-growth ratio of 2.68 and a beta of 1.75. The firm’s 50 day moving average is $234.69 and its 200 day moving average is $202.11.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s dividend payout ratio is presently 6.38%.

Insider Buying and Selling

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 15,047 shares in the company, valued at $3,592,471.25. The trade was a 23.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Bel Fuse by 74.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock valued at $141,517,000 after purchasing an additional 355,563 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Bel Fuse by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 619,337 shares of the electronics maker’s stock valued at $105,016,000 after acquiring an additional 99,834 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Bel Fuse by 45.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock worth $88,039,000 after buying an additional 161,736 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Bel Fuse by 16.6% during the first quarter. Wasatch Advisors LP now owns 478,709 shares of the electronics maker’s stock worth $94,775,000 after buying an additional 68,222 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Bel Fuse by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 267,950 shares of the electronics maker’s stock worth $45,460,000 after buying an additional 2,803 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

About Bel Fuse

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.