Bel Fuse (NASDAQ:BELFA) Hits New 12-Month High – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFA)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $160.00 and last traded at $160.21, with a volume of 34250 shares changing hands. The stock had previously closed at $154.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Bel Fuse in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $115.00.

Bel Fuse Trading Up 6.1%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 3.06. The firm has a market cap of $2.07 billion, a PE ratio of 33.20 and a beta of 1.22. The stock has a 50-day simple moving average of $140.35 and a two-hundred day simple moving average of $120.91.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.59. Bel Fuse had a net margin of 10.04% and a return on equity of 21.18%. The firm had revenue of $178.98 million for the quarter, compared to the consensus estimate of $171.69 million.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, January 15th. Bel Fuse’s dividend payout ratio is presently 4.87%.

Insiders Place Their Bets

In other Bel Fuse news, VP Joseph Berry sold 408 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.23, for a total value of $58,845.84. Following the transaction, the vice president directly owned 17,893 shares of the company’s stock, valued at approximately $2,580,707.39. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kenneth Koon Keung Lai sold 1,936 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.23, for a total value of $279,229.28. Following the sale, the vice president owned 8,319 shares of the company’s stock, valued at approximately $1,199,849.37. This represents a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,027 shares of company stock worth $435,034. Company insiders own 5.46% of the company’s stock.

Institutional Trading of Bel Fuse

Several large investors have recently added to or reduced their stakes in the business. Investors Asset Management of Georgia Inc. GA ADV grew its position in Bel Fuse by 0.4% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock valued at $3,043,000 after buying an additional 100 shares during the period. Rhumbline Advisers grew its position in shares of Bel Fuse by 3.9% during the 3rd quarter. Rhumbline Advisers now owns 3,196 shares of the scientific and technical instruments company’s stock valued at $372,000 after acquiring an additional 121 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bel Fuse by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after purchasing an additional 150 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Bel Fuse by 92.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 153 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Bel Fuse by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock worth $6,056,000 after purchasing an additional 200 shares during the period. 6.01% of the stock is currently owned by institutional investors.

About Bel Fuse

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.