Sei Investments Co. Raises Stock Holdings in Bel Fuse Inc. $BELFA

Sei Investments Co. boosted its position in shares of Bel Fuse Inc. (NASDAQ:BELFA) by 110.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,681 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,076 shares during the quarter. Sei Investments Co.’s holdings in Bel Fuse were worth $1,745,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hound Partners LLC bought a new stake in Bel Fuse in the 4th quarter worth $5,714,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Bel Fuse during the third quarter valued at about $1,628,000. Citadel Advisors LLC boosted its holdings in shares of Bel Fuse by 434.9% during the third quarter. Citadel Advisors LLC now owns 13,336 shares of the scientific and technical instruments company’s stock worth $1,552,000 after purchasing an additional 10,843 shares during the period. Millennium Management LLC boosted its holdings in shares of Bel Fuse by 314.2% during the fourth quarter. Millennium Management LLC now owns 12,729 shares of the scientific and technical instruments company’s stock worth $1,932,000 after purchasing an additional 9,656 shares during the period. Finally, Nitor Capital Management LLC bought a new stake in shares of Bel Fuse in the fourth quarter worth about $1,063,000. Hedge funds and other institutional investors own 6.01% of the company’s stock.

Bel Fuse Price Performance

Shares of NASDAQ BELFA opened at $227.70 on Tuesday. Bel Fuse Inc. has a 1 year low of $107.51 and a 1 year high of $293.51. The firm has a 50-day moving average of $241.63 and a 200 day moving average of $223.85. The stock has a market cap of $2.90 billion, a P/E ratio of 58.24 and a beta of 1.40.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.42. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%. The business had revenue of $210.69 million for the quarter, compared to analysts’ expectations of $206.39 million.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s dividend payout ratio is presently 6.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BELFA shares. Weiss Ratings cut Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Citigroup started coverage on shares of Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.00.

About Bel Fuse

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.