Bel Fuse Inc. (BELFB) Sees Unusually-High Trading Volume
Bel Fuse Inc. (NASDAQ:BELFB) saw strong trading volume on Friday . 131,400 shares changed hands during trading, an increase of 152% from the previous session’s volume of 52,155 shares.The stock last traded at $18.04 and had previously closed at $17.45.
Separately, TheStreet downgraded shares of Bel Fuse from a “hold” rating to a “sell” rating in a report on Friday, May 6th.
The firm’s market cap is $214.04 million. The stock’s 50 day moving average is $17.94 and its 200 day moving average is $16.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, July 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.55%.
In other Bel Fuse news, Director Avi D. Eden bought 7,000 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were bought at an average cost of $17.42 per share, with a total value of $121,940.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $87,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Bel Fuse by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 753,919 shares of the company’s stock worth $13,035,000 after buying an additional 24,063 shares during the period. LSV Asset Management boosted its stake in Bel Fuse by 17.2% in the fourth quarter. LSV Asset Management now owns 365,648 shares of the company’s stock worth $6,322,000 after buying an additional 53,660 shares during the period. Boston Partners boosted its stake in Bel Fuse by 2.5% in the fourth quarter. Boston Partners now owns 204,772 shares of the company’s stock worth $3,541,000 after buying an additional 5,037 shares during the period. First Trust Advisors LP boosted its stake in Bel Fuse by 77.5% in the fourth quarter. First Trust Advisors LP now owns 124,372 shares of the company’s stock worth $2,150,000 after buying an additional 54,305 shares during the period. Finally, Morgan Stanley boosted its stake in Bel Fuse by 85.6% in the fourth quarter. Morgan Stanley now owns 83,770 shares of the company’s stock worth $1,449,000 after buying an additional 38,628 shares during the period.
Bel Fuse Inc (Bel) designs, manufactures and markets a range of products that power, protect and connect electronic circuits. The Company’s products include magnetic solutions, power solutions and protection, and connectivity solutions. The Company’s operating segments are North America, Asia and Europe.
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