Pinnacle Associates Ltd. Increases Stock Position in Bel Fuse Inc. $BELFB

Pinnacle Associates Ltd. increased its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,065 shares of the electronics maker’s stock after buying an additional 1,900 shares during the period. Pinnacle Associates Ltd. owned 0.11% of Bel Fuse worth $1,374,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BELFB. Makaira Partners LLC purchased a new stake in Bel Fuse during the first quarter worth $18,415,000. Bessemer Group Inc. boosted its holdings in Bel Fuse by 28.3% during the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker’s stock worth $31,827,000 after buying an additional 71,895 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Bel Fuse during the first quarter worth $4,280,000. Tema Etfs LLC boosted its holdings in Bel Fuse by 351.3% during the first quarter. Tema Etfs LLC now owns 38,417 shares of the electronics maker’s stock worth $2,876,000 after buying an additional 29,905 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Bel Fuse during the 1st quarter worth approximately $2,229,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Up 2.2%

Shares of NASDAQ BELFB opened at $153.99 on Monday. The company’s 50-day simple moving average is $144.68 and its 200-day simple moving average is $111.82. 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 firm has a market cap of $1.95 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.86 and a beta of 1.55. Bel Fuse Inc. has a 52-week low of $57.99 and a 52-week high of $159.75.

Bel Fuse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, January 15th. Bel Fuse’s dividend payout ratio (DPR) is currently 5.38%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BELFB shares. Needham & Company LLC upped their target price on Bel Fuse from $130.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen upgraded shares of Bel Fuse from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bel Fuse in a research report on Wednesday, October 8th. Oppenheimer set a $180.00 target price on shares of Bel Fuse and gave the company an “outperform” rating in a research report on Friday. Finally, Northland Securities set a $188.00 target price on shares of Bel Fuse in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $164.20.

Bel Fuse Company 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.