Bel Fuse (NASDAQ:BELFB) Downgraded by StockNews.com

StockNews.com cut shares of Bel Fuse (NASDAQ:BELFB) from a buy rating to a hold rating in a report published on Saturday.

BELFB has been the subject of a number of other reports. Northland Securities lowered Bel Fuse from an outperform rating to a market perform rating and set a $63.00 price objective for the company. in a research report on Thursday, May 2nd. Needham & Company LLC dropped their price target on shares of Bel Fuse from $70.00 to $68.00 and set a buy rating for the company in a research note on Monday, April 29th.

Bel Fuse Stock Up 2.0 %

BELFB opened at $59.21 on Friday. The firm has a market cap of $755.52 million, a price-to-earnings ratio of 9.97 and a beta of 1.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.70 and a current ratio of 4.21. The firm’s 50-day simple moving average is $57.80 and its 200-day simple moving average is $59.36. Bel Fuse has a twelve month low of $39.13 and a twelve month high of $74.75.

Bel Fuse (NASDAQ:BELFB) last announced its earnings results on Wednesday, February 21st. The electronics maker reported $1.37 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.07). Bel Fuse had a return on equity of 23.58% and a net margin of 12.62%. The business had revenue of $140.01 million during the quarter, compared to analyst estimates of $152.86 million. Equities research analysts anticipate that Bel Fuse will post 4.39 EPS for the current fiscal year.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. Bel Fuse’s dividend payout ratio is currently 4.71%.

Insider Activity at Bel Fuse

In other news, Director Vincent Vellucci sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $56.70, for a total value of $56,700.00. Following the completion of the transaction, the director now owns 7,392 shares in the company, valued at approximately $419,126.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in Bel Fuse by 373.5% in the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 747 shares during the period. Toronto Dominion Bank bought a new position in shares of Bel Fuse in the third quarter valued at about $48,000. Covestor Ltd lifted its stake in shares of Bel Fuse by 26.5% during the 3rd quarter. Covestor Ltd now owns 1,012 shares of the electronics maker’s stock worth $48,000 after buying an additional 212 shares during the last quarter. AJOVista LLC bought a new stake in shares of Bel Fuse during the 4th quarter worth about $73,000. Finally, National Bank of Canada FI acquired a new position in Bel Fuse in the 4th quarter valued at about $78,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.