Principal Financial Group Inc. Takes Position in Bel Fuse Inc. $BELFB

Principal Financial Group Inc. purchased a new position in Bel Fuse Inc. (NASDAQ:BELFB) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,722 shares of the electronics maker’s stock, valued at approximately $2,915,000. Principal Financial Group Inc. owned approximately 0.12% of Bel Fuse as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Bel Fuse by 365.6% during the fourth quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Bel Fuse in the 4th quarter worth approximately $33,000. Erste Asset Management GmbH bought a new stake in shares of Bel Fuse in the 4th quarter valued at approximately $83,000. BNP Paribas Financial Markets increased its holdings in shares of Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock valued at $98,000 after acquiring an additional 375 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Bel Fuse by 195.0% in the 4th quarter. Clearstead Advisors LLC now owns 590 shares of the electronics maker’s stock valued at $100,000 after acquiring an additional 390 shares during the last quarter. 58.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Northland Securities set a $321.00 price objective on Bel Fuse in a research note on Monday, May 4th. Robert W. Baird set a $293.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. Oppenheimer reissued an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a report on Friday, May 1st. Needham & Company LLC raised their price target on shares of Bel Fuse from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Bel Fuse in a report on Wednesday, June 10th. They issued an “overweight” rating and a $370.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $321.50.

Bel Fuse Stock Performance

Shares of BELFB stock opened at $242.43 on Thursday. Bel Fuse Inc. has a 12-month low of $123.14 and a 12-month high of $335.29. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 2.60 and a beta of 1.68. The business has a 50 day simple moving average of $280.42 and a 200 day simple moving average of $245.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73.

Bel Fuse 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.