Bel Fuse (NASDAQ:BELFA) Sees Strong Trading Volume – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFA) shares saw strong trading volume on Monday . Approximately 268,810 shares traded hands during trading, an increase of 142% from the previous session’s volume of 111,123 shares.The stock last traded at $230.8050 and had previously closed at $233.55.

Wall Street Analysts Forecast Growth

BELFA has been the subject of several research reports. Citigroup initiated coverage on shares of Bel Fuse in a research note on Monday, July 13th. They issued a “buy” rating for the company. Weiss Ratings cut Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Bel Fuse Trading Up 2.9%

The company has a market cap of $3.07 billion, a price-to-earnings ratio of 62.20 and a beta of 1.40. The firm’s fifty day simple moving average is $241.56 and its 200 day simple moving average is $224.19.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.42. The company had revenue of $210.69 million for the quarter, compared to the consensus estimate of $206.39 million. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 15th. Bel Fuse’s dividend payout ratio is 6.14%.

Institutional Trading of Bel Fuse

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in Bel Fuse by 62.3% during the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock worth $12,299,000 after purchasing an additional 26,200 shares during the last quarter. Sei Investments Co. boosted its holdings in Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock valued at $1,745,000 after purchasing an additional 5,076 shares in the last quarter. Strs Ohio purchased a new position in Bel Fuse in the first quarter valued at approximately $396,000. Aristeia Capital L.L.C. increased its stake in Bel Fuse by 21.9% in the fourth quarter. Aristeia Capital L.L.C. now owns 11,094 shares of the scientific and technical instruments company’s stock valued at $1,684,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Congruence Capital LLC acquired a new stake in Bel Fuse during the fourth quarter worth approximately $414,000. 6.01% of the stock is owned by hedge funds and other 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.