Insider Selling: Bel Fuse (NASDAQ:BELFA) Director Sells $95,738.73 in Stock

Bel Fuse Inc. (NASDAQ:BELFA) Director Vincent Vellucci sold 393 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $243.61, for a total value of $95,738.73. Following the sale, the director directly owned 8,434 shares of the company’s stock, valued at $2,054,606.74. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bel Fuse Stock Performance

NASDAQ:BELFA opened at $202.42 on Monday. The stock’s 50 day moving average price is $227.13 and its 200 day moving average price is $226.39. Bel Fuse Inc. has a 52 week low of $110.67 and a 52 week high of $293.51. The company has a market capitalization of $2.92 billion, a P/E ratio of 51.77 and a beta of 1.39.

Bel Fuse (NASDAQ:BELFA) last posted its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.42. The firm had revenue of $210.69 million during the quarter, compared to analysts’ expectations of $206.39 million. Bel Fuse had a net margin of 7.21% and a return on equity of 20.55%.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a $0.06 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Bel Fuse’s dividend payout ratio is currently 6.14%.

Institutional Trading of Bel Fuse

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in Bel Fuse by 772,162.1% in the 2nd quarter. California State Teachers Retirement System now owns 671,868 shares of the scientific and technical instruments company’s stock worth $195,668,000 after buying an additional 671,781 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Bel Fuse by 16.9% in the second quarter. FNY Investment Advisers LLC now owns 1,239 shares of the scientific and technical instruments company’s stock valued at $360,000 after acquiring an additional 179 shares during the period. Renaissance Technologies LLC boosted its position in shares of Bel Fuse by 62.3% in the first quarter. Renaissance Technologies LLC now owns 68,253 shares of the scientific and technical instruments company’s stock valued at $12,299,000 after acquiring an additional 26,200 shares during the period. Sei Investments Co. grew its stake in shares of Bel Fuse by 110.2% in the first quarter. Sei Investments Co. now owns 9,681 shares of the scientific and technical instruments company’s stock worth $1,745,000 after acquiring an additional 5,076 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Bel Fuse by 6,000.0% in the first quarter. PNC Financial Services Group Inc. now owns 305 shares of the scientific and technical instruments company’s stock worth $55,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 6.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BELFA has been the topic of several recent research reports. Weiss Ratings lowered Bel Fuse from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 26th. Citigroup initiated coverage on Bel Fuse in a report on Monday, July 13th. They set a “buy” rating on the stock. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $250.00.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.