Bel Fuse (BELFB) Cut to Sell at BidaskClub
BidaskClub downgraded shares of Bel Fuse (NASDAQ:BELFB) from a hold rating to a sell rating in a research note released on Thursday.
Shares of Bel Fuse (NASDAQ:BELFB) opened at $24.60 on Thursday. Bel Fuse has a 52 week low of $21.65 and a 52 week high of $33.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.59 and a current ratio of 2.66. The company has a market cap of $295.99, a P/E ratio of 18.78 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be issued a $0.07 dividend. The ex-dividend date is Thursday, January 11th. This represents a $0.28 annualized dividend and a yield of 1.14%. Bel Fuse’s dividend payout ratio is currently 28.57%.
In related news, insider Daniel Bernstein sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.61, for a total value of $73,830.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dennis Ackerman sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.63, for a total transaction of $61,575.00. The disclosure for this sale can be found here. Corporate insiders own 8.84% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundry Partners LLC acquired a new stake in Bel Fuse in the second quarter worth $1,923,000. Kennedy Capital Management Inc. acquired a new stake in Bel Fuse in the second quarter worth $1,617,000. Russell Investments Group Ltd. raised its holdings in Bel Fuse by 239.5% in the second quarter. Russell Investments Group Ltd. now owns 65,657 shares of the electronics maker’s stock worth $1,622,000 after purchasing an additional 46,319 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Bel Fuse by 1,415.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 29,240 shares of the electronics maker’s stock worth $722,000 after purchasing an additional 27,310 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Bel Fuse by 5.9% in the first quarter. Vanguard Group Inc. now owns 446,013 shares of the electronics maker’s stock worth $11,396,000 after purchasing an additional 24,686 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.
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About Bel Fuse
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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