State Street Corp Sells 2,332 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

State Street Corp cut its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,155 shares of the electronics maker’s stock after selling 2,332 shares during the period. State Street Corp’s holdings in Bel Fuse were worth $17,755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BELFB. Thrivent Financial for Lutherans lifted its position in Bel Fuse by 277.2% during the second quarter. Thrivent Financial for Lutherans now owns 167,496 shares of the electronics maker’s stock valued at $10,927,000 after purchasing an additional 123,092 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Bel Fuse by 122.8% during the third quarter. Portolan Capital Management LLC now owns 120,858 shares of the electronics maker’s stock worth $9,489,000 after purchasing an additional 66,621 shares during the period. Isthmus Partners LLC purchased a new stake in Bel Fuse in the 2nd quarter worth approximately $39,000. Hodges Capital Management Inc. bought a new stake in Bel Fuse in the second quarter valued at $3,346,000. Finally, American Century Companies Inc. boosted its stake in shares of Bel Fuse by 11.6% during the 2nd quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker’s stock valued at $18,024,000 after purchasing an additional 28,649 shares in the last quarter. 58.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BELFB. Needham & Company LLC lifted their price target on Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Northland Capmk raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th. Oppenheimer assumed coverage on Bel Fuse in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 target price for the company. StockNews.com cut Bel Fuse from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Finally, Northland Securities raised their price objective on shares of Bel Fuse from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $98.33.

Bel Fuse Stock Performance

Shares of NASDAQ BELFB opened at $82.21 on Tuesday. Bel Fuse Inc. has a 1 year low of $45.74 and a 1 year high of $92.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.71. The stock has a market cap of $1.03 billion, a PE ratio of 18.86 and a beta of 1.33. The firm has a fifty day moving average price of $80.61 and a 200-day moving average price of $73.06.

Bel Fuse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Wednesday, January 15th. Bel Fuse’s dividend payout ratio is currently 6.42%.

Insider Activity

In other news, insider Stephen Dawson sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the transaction, the insider now owns 14,832 shares of the company’s stock, valued at approximately $1,151,704.80. The trade was a 9.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Francis Berry sold 1,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.30, for a total transaction of $80,300.00. Following the completion of the sale, the vice president now directly owns 8,023 shares in the company, valued at $644,246.90. This trade represents a 11.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.37% of the company’s stock.

Bel Fuse Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.