Hodges Capital Management Inc. Decreases Position in Bel Fuse Inc. $BELFB

Hodges Capital Management Inc. lowered its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 39.0% during the second quarter, Holdings Channel reports. The fund owned 23,325 shares of the electronics maker’s stock after selling 14,915 shares during the period. Hodges Capital Management Inc.’s holdings in Bel Fuse were worth $2,279,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BELFB. CWM LLC boosted its holdings in shares of Bel Fuse by 147.1% in the 1st quarter. CWM LLC now owns 383 shares of the electronics maker’s stock valued at $29,000 after buying an additional 228 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Bel Fuse in the second quarter valued at $50,000. Y Intercept Hong Kong Ltd acquired a new position in Bel Fuse in the second quarter valued at $202,000. ProShare Advisors LLC purchased a new position in shares of Bel Fuse during the second quarter worth about $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bel Fuse by 40.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,959 shares of the electronics maker’s stock worth $222,000 after purchasing an additional 854 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC boosted their target price on Bel Fuse from $130.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bel Fuse in a research report on Wednesday, October 8th. Northland Securities set a $188.00 price objective on Bel Fuse in a research note on Friday, October 31st. Wall Street Zen raised Bel Fuse from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Oppenheimer set a $180.00 target price on shares of Bel Fuse and gave the stock an “outperform” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $164.20.

Bel Fuse Stock Up 0.9%

Bel Fuse stock opened at $161.53 on Monday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 1.86 and a beta of 1.59. The company has a current ratio of 3.05, a quick ratio of 1.72 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $146.71 and a two-hundred day moving average of $114.98. Bel Fuse Inc. has a twelve month low of $57.99 and a twelve month high of $161.66.

Bel Fuse Dividend Announcement

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

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.