Bel Fuse (NASDAQ:BELFB) Trading Down 4.4% – Here’s What Happened

Bel Fuse Inc. (NASDAQ:BELFB) dropped 4.4% on Thursday . The stock traded as low as $306.15 and last traded at $304.0710. 21,396 shares changed hands during trading, a decline of 91% from the average session volume of 227,909 shares. The stock had previously closed at $318.06.

Analyst Upgrades and Downgrades

BELFB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on Bel Fuse in a report on Wednesday, June 10th. They set an “overweight” rating and a $370.00 price target for the company. Northland Securities set a $321.00 price objective on Bel Fuse in a research note on Monday, May 4th. Needham & Company LLC lifted their target price on Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Oppenheimer reissued an “outperform” rating and set a $315.00 target price on shares of Bel Fuse in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.80.

Bel Fuse Stock Performance

The company has a market cap of $3.60 billion, a price-to-earnings ratio of 64.71, a P/E/G ratio of 3.27 and a beta of 1.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 3.18. The company has a fifty day moving average of $281.61 and a two-hundred day moving average of $232.66.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse’s dividend payout ratio (DPR) is presently 6.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Bel Fuse by 20.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 286 shares of the electronics maker’s stock valued at $57,000 after buying an additional 48 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Bel Fuse by 1.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,782 shares of the electronics maker’s stock worth $947,000 after acquiring an additional 50 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Bel Fuse by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,087 shares of the electronics maker’s stock valued at $693,000 after acquiring an additional 79 shares during the period. PFG Advisors raised its stake in shares of Bel Fuse by 1.3% during the fourth quarter. PFG Advisors now owns 6,656 shares of the electronics maker’s stock valued at $1,129,000 after acquiring an additional 84 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Bel Fuse by 0.9% during the first quarter. Bank of America Corp DE now owns 10,348 shares of the electronics maker’s stock valued at $2,049,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 58.39% of the company’s stock.

Bel Fuse Company Profile

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.