Oliver Luxxe Assets LLC Sells 1,779 Shares of Bel Fuse Inc. $BELFB

Oliver Luxxe Assets LLC decreased its holdings in Bel Fuse Inc. (NASDAQ:BELFB) by 21.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,353 shares of the electronics maker’s stock after selling 1,779 shares during the period. Oliver Luxxe Assets LLC’s holdings in Bel Fuse were worth $2,116,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BELFB. Tudor Investment Corp ET AL bought a new stake in shares of Bel Fuse in the third quarter worth approximately $2,739,000. B. Metzler seel. Sohn & Co. AG bought a new position in Bel Fuse during the fourth quarter valued at approximately $843,000. Phocas Financial Corp. bought a new position in Bel Fuse during the fourth quarter valued at approximately $3,917,000. Principal Financial Group Inc. purchased a new stake in Bel Fuse in the first quarter worth approximately $2,915,000. Finally, Janus Henderson Group PLC grew its position in Bel Fuse by 22.7% in the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after purchasing an additional 140,804 shares during the period. Institutional investors own 58.39% of the company’s stock.

Bel Fuse Trading Up 0.8%

BELFB opened at $291.59 on Friday. Bel Fuse Inc. has a 1-year low of $124.42 and a 1-year high of $335.29. The company has a market capitalization of $3.71 billion, a PE ratio of 70.43, a PEG ratio of 3.09 and a beta of 1.72. The firm’s 50 day simple moving average is $281.77 and its two-hundred day simple moving average is $249.92.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio is 6.76%.

Analyst Ratings Changes

BELFB has been the subject of a number of research reports. Zacks Research upgraded shares of Bel Fuse from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Northland Securities set a $326.00 price objective on Bel Fuse in a report on Friday, July 31st. Oppenheimer reiterated an “outperform” rating and set a $315.00 price objective on shares of Bel Fuse in a research report on Friday, May 1st. B. Riley Financial initiated coverage on Bel Fuse in a report on Tuesday, July 14th. They issued a “buy” rating on the stock. Finally, Bank of America assumed coverage on Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating and a $330.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.00.

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.