Bel Fuse (NASDAQ:BELFA) Sets New 12-Month High – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Bel Fuse Inc. (NASDAQ:BELFA – Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $279.64 and last traded at $280.9960, with a volume of 18625 shares. The stock had previously closed at $272.57.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $250.00.
Read Our Latest Report on BELFA
Bel Fuse Trading Up 2.2%
The firm has a market capitalization of $3.54 billion, a P/E ratio of 67.27 and a beta of 1.38. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $249.50 and a two-hundred day moving average of $208.83.
Bel Fuse (NASDAQ:BELFA – Get Free Report) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.The company had revenue of $178.49 million for the quarter, compared to analyst estimates of $172.07 million.
Bel Fuse Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.24 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio is 5.78%.
Institutional Trading of Bel Fuse
Several hedge funds and other institutional investors have recently modified their holdings of the business. Hound Partners LLC bought a new position in shares of Bel Fuse in the fourth quarter worth $5,714,000. Renaissance Technologies LLC grew its holdings in shares of Bel Fuse by 62.3% during the 1st quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock valued at $12,299,000 after purchasing an additional 26,200 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Bel Fuse during the 3rd quarter valued at $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. Finally, Millennium Management LLC increased its stake 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 valued at $1,932,000 after buying an additional 9,656 shares during the period. Institutional investors own 6.01% of the company’s stock.
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.