Bel Fuse (BELFB) Downgraded by BidaskClub
BidaskClub cut shares of Bel Fuse (NASDAQ:BELFB) from a buy rating to a hold rating in a research note released on Saturday morning.
A number of other equities research analysts also recently weighed in on BELFB. ValuEngine raised Bel Fuse from a sell rating to a hold rating in a research note on Friday, August 3rd. Needham & Company LLC raised Bel Fuse from a hold rating to a buy rating and set a $30.00 price target for the company in a research note on Tuesday, September 25th.
BELFB opened at $24.68 on Friday. Bel Fuse has a fifty-two week low of $17.10 and a fifty-two week high of $29.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.89 and a quick ratio of 1.76. The stock has a market cap of $318.74 million, a PE ratio of 20.77 and a beta of 0.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, January 14th.
In other news, insider Daniel Bernstein sold 3,000 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $24.83, for a total transaction of $74,490.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Craig Brosious sold 1,600 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $25.00, for a total value of $40,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $178,090. 5.37% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Bel Fuse during the 3rd quarter valued at about $113,000. MetLife Investment Advisors LLC acquired a new position in shares of Bel Fuse during the 3rd quarter valued at about $195,000. Cim Investment Mangement Inc. acquired a new position in shares of Bel Fuse during the 3rd quarter valued at about $250,000. Bailard Inc. acquired a new position in shares of Bel Fuse during the 3rd quarter valued at about $495,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Bel Fuse by 35.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,795 shares of the electronics maker’s stock valued at $498,000 after acquiring an additional 6,195 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
About Bel Fuse
Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, and consumer electronic industries in North America, Asia, and Europe. It offers magnetic products, such as integrated connector modules; power transformers; SMD power inductors and SMPS transformers; and telecom discrete components.
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