Bel Fuse (NASDAQ:BELFB) Sets New 52-Week High – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFB) reached a new 52-week high during trading on Thursday . The company traded as high as $307.00 and last traded at $286.89, with a volume of 293739 shares trading hands. The stock had previously closed at $297.17.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC upped their price objective on Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird set a $293.00 price objective on Bel Fuse in a report on Friday, May 1st. Northland Securities set a $321.00 price objective on Bel Fuse in a report on Monday. Weiss Ratings upgraded Bel Fuse from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $315.00 price objective on shares of Bel Fuse in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Bel Fuse presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

Bel Fuse Trading Up 2.6%

The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 67.88, a P/E/G ratio of 2.89 and a beta of 1.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The firm has a fifty day moving average of $227.80 and a 200-day moving average of $196.95.

Bel Fuse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is 6.38%.

Insider Activity at Bel Fuse

In other Bel Fuse news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter E. Gilbert sold 4,500 shares of the stock in a transaction that occurred 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 directly owned 15,047 shares of the company’s stock, valued at $3,592,471.25. This trade represents a 23.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.37% of the stock is owned by company insiders.

Institutional Trading of Bel Fuse

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Bel Fuse by 74.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock valued at $141,517,000 after acquiring an additional 355,563 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Bel Fuse during the fourth quarter valued at about $42,680,000. Wasatch Advisors LP grew its stake in shares of Bel Fuse by 74.3% during the fourth quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker’s stock valued at $69,631,000 after acquiring an additional 174,969 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Bel Fuse by 45.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock valued at $88,039,000 after acquiring an additional 161,736 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Bel Fuse by 1,345.9% during the fourth quarter. JPMorgan Chase & Co. now owns 143,361 shares of the electronics maker’s stock valued at $24,318,000 after acquiring an additional 133,446 shares in the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Company Profile

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.