Globeflex Capital L P Takes Position in Bel Fuse Inc. $BELFB

Globeflex Capital L P purchased a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,533 shares of the electronics maker’s stock, valued at approximately $1,029,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Bel Fuse by 74.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 834,261 shares of the electronics maker’s stock valued at $141,517,000 after purchasing an additional 355,563 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Bel Fuse during the fourth quarter worth about $42,680,000. Wasatch Advisors LP boosted its position in shares of Bel Fuse by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 410,487 shares of the electronics maker’s stock worth $69,631,000 after buying an additional 174,969 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Bel Fuse by 45.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 519,005 shares of the electronics maker’s stock worth $88,039,000 after buying an additional 161,736 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Bel Fuse by 22.7% in the first quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock valued at $150,587,000 after buying an additional 140,804 shares in the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Stock Down 2.9%

Shares of BELFB opened at $247.98 on Tuesday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 2.71 and a beta of 1.72. The business’s 50 day moving average is $281.08 and its two-hundred day moving average is $255.77. Bel Fuse Inc. has a 52-week low of $129.94 and a 52-week high of $335.29.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio is currently 6.76%.

Insider Buying and Selling

In other Bel Fuse news, Director Peter E. Gilbert sold 500 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction 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 trade represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.37% of the stock is owned by company insiders.

Analyst Ratings Changes

BELFB has been the topic of several recent research reports. Robert W. Baird set a $293.00 price target on Bel Fuse in a research report on Friday, May 1st. B. Riley Financial initiated coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating for the company. Needham & Company LLC lifted their price objective on shares of Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Oppenheimer reissued an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research report on Friday, May 1st. Finally, Citigroup assumed coverage on shares of Bel Fuse in a report on Monday, July 13th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bel Fuse has an average rating of “Moderate Buy” and a consensus target price of $324.00.

About Bel Fuse

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.