Bel Fuse (NASDAQ:BELFA) Stock Price Down 9.1% – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFA)’s share price fell 9.1% on Monday . The stock traded as low as $192.65 and last traded at $189.7680. 36,568 shares were traded during mid-day trading, a decline of 68% from the average session volume of 112,812 shares. The stock had previously closed at $208.72.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BELFA. Weiss Ratings downgraded shares of Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. Citigroup initiated coverage on Bel Fuse in a research note on Monday, July 13th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Bel Fuse Stock Down 9.0%

The company’s 50 day moving average is $221.47 and its 200 day moving average is $226.07. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 48.80 and a beta of 1.39.

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

Bel Fuse Dividend Announcement

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

Insider Activity at Bel Fuse

In other Bel Fuse news, Director Vincent Vellucci sold 393 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $243.61, for a total transaction of $95,738.73. Following the transaction, the director owned 8,434 shares in the company, valued at $2,054,606.74. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the transaction, the director directly owned 750 shares of the company’s stock, valued at $219,090. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.75% of the company’s stock.

Institutional Trading of Bel Fuse

Several large investors have recently modified their holdings of BELFA. BNP Paribas Financial Markets raised its stake in Bel Fuse by 92.2% in the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 153 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Bel Fuse by 6,000.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock valued at $55,000 after buying an additional 300 shares during the period. Sunbelt Securities Inc. bought a new position in Bel Fuse in the 4th quarter valued at about $61,000. Tower Research Capital LLC TRC increased its holdings in Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock valued at $67,000 after buying an additional 608 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Bel Fuse in the 4th quarter valued at approximately $111,000. 6.01% of the stock is owned by institutional investors and hedge funds.

Bel Fuse Company Profile

Bel Fuse Inc is a global manufacturer of products that support the safe transmission, protection and management of electrical power and signals. The company serves original equipment manufacturers, distributors and other customers across markets including networking and telecommunications, data centers, industrial equipment, consumer electronics, automotive, medical and aerospace applications.

Its product portfolio includes circuit protection devices such as fuses and resettable protection components; power products including power supplies, converters and transformers; and interconnect products such as connectors, cable assemblies and related components.