Pinnacle Associates Ltd. Sells 4,024 Shares of Bel Fuse Inc. $BELFB

Pinnacle Associates Ltd. decreased its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 28.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,041 shares of the electronics maker’s stock after selling 4,024 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.08% of Bel Fuse worth $1,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BELFB. Geode Capital Management LLC raised its position in Bel Fuse by 2.6% in the second quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker’s stock valued at $31,451,000 after purchasing an additional 8,243 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Bel Fuse by 33.6% in the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker’s stock valued at $27,745,000 after buying an additional 71,390 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Bel Fuse by 66.8% in the third quarter. Thrivent Financial for Lutherans now owns 245,248 shares of the electronics maker’s stock valued at $34,584,000 after buying an additional 98,178 shares during the period. Loomis Sayles & Co. L P raised its holdings in Bel Fuse by 0.8% in the 2nd quarter. Loomis Sayles & Co. L P now owns 196,519 shares of the electronics maker’s stock valued at $19,198,000 after buying an additional 1,577 shares during the last quarter. Finally, Tema Etfs LLC raised its holdings in Bel Fuse by 2.3% in the 3rd quarter. Tema Etfs LLC now owns 52,896 shares of the electronics maker’s stock valued at $7,459,000 after buying an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BELFB. Weiss Ratings lowered shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 25th. Needham & Company LLC raised their price target on shares of Bel Fuse from $212.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Northland Securities set a $266.00 price target on shares of Bel Fuse in a report on Thursday, February 19th. Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Finally, Wall Street Zen upgraded Bel Fuse from a “hold” rating to a “buy” rating in a report on Sunday. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.20.

Insider Buying and Selling

In other news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total transaction of $7,948,278.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter E. Gilbert sold 4,500 shares of Bel Fuse stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director owned 15,047 shares of the company’s stock, valued at $3,592,471.25. This represents a 23.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.37% of the company’s stock.

Bel Fuse Stock Performance

BELFB stock opened at $200.88 on Thursday. The firm has a market cap of $2.54 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.52. The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $209.05 and a 200-day moving average price of $172.16. Bel Fuse Inc. has a 1-year low of $57.99 and a 1-year high of $248.61.

Bel Fuse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, April 15th. Bel Fuse’s payout ratio is presently 5.70%.

About Bel Fuse

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.