Bel Fuse Inc. (BELFB) Stock Price Up 6%
Bel Fuse Inc. (NASDAQ:BELFB) shares rose 6% during trading on Wednesday . The stock traded as high as $20.24 and last traded at $20.23, with a volume of 56,682 shares. The stock had previously closed at $19.09.
Separately, TheStreet downgraded shares of Bel Fuse from a “hold” rating to a “sell” rating in a report on Friday, May 6th.
The company has a 50-day moving average of $18.44 and a 200-day moving average of $16.22. The firm’s market capitalization is $240.03 million.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 1.38%.
In related news, Director Avi D. Eden acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was purchased 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 directly owns 5,000 shares of the company’s stock, valued at $87,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds have made changes to their positions in BELFB. Boston Partners boosted its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 in the last quarter. Morgan Stanley boosted its stake in shares of 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 in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of 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 in the last quarter.
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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