CenterBook Partners LP Takes Position in Bel Fuse Inc. (NASDAQ:BELFB)

CenterBook Partners LP acquired a new stake in Bel Fuse Inc. (NASDAQ:BELFB) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 29,770 shares of the electronics maker’s stock, valued at approximately $2,229,000. CenterBook Partners LP owned approximately 0.24% of Bel Fuse as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BELFB. Vanguard Group Inc. lifted its holdings in Bel Fuse by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker’s stock valued at $68,654,000 after purchasing an additional 12,808 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Bel Fuse by 55.4% during the fourth quarter. Janus Henderson Group PLC now owns 398,123 shares of the electronics maker’s stock valued at $32,821,000 after purchasing an additional 141,951 shares during the last quarter. Advisory Research Inc. raised its position in Bel Fuse by 27.4% in the 4th quarter. Advisory Research Inc. now owns 313,446 shares of the electronics maker’s stock worth $25,850,000 after purchasing an additional 67,460 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Bel Fuse by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 292,020 shares of the electronics maker’s stock worth $24,088,000 after acquiring an additional 2,722 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Bel Fuse in the first quarter worth about $19,007,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Bel Fuse Trading Down 0.5%

BELFB opened at $131.10 on Thursday. Bel Fuse Inc. has a twelve month low of $57.99 and a twelve month high of $134.74. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 1.81 and a beta of 1.52. The company has a quick ratio of 1.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $98.31 and a 200 day simple moving average of $83.46.

Bel Fuse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, October 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. This is an increase from Bel Fuse’s previous quarterly dividend of $0.06. Bel Fuse’s dividend payout ratio is presently 6.86%.

Insiders Place Their Bets

In related news, VP Kenneth Koon Keung Lai sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $128.00, for a total value of $243,200.00. Following the completion of the transaction, the vice president owned 10,255 shares in the company, valued at $1,312,640. This trade represents a 15.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Dawson sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the transaction, the insider owned 14,265 shares of the company’s stock, valued at approximately $1,812,653.55. This trade represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $731,804 in the last 90 days. 5.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BELFB has been the subject of several research analyst reports. Baird R W raised shares of Bel Fuse to a “strong-buy” rating in a report on Tuesday, June 10th. Oppenheimer set a $125.00 price target on Bel Fuse and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Northland Securities upped their price target on shares of Bel Fuse from $93.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, June 30th. Needham & Company LLC boosted their price objective on shares of Bel Fuse from $116.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. Five analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $113.60.

About Bel Fuse

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.