Beck Mack & Oliver LLC Acquires Shares of 3,500 Bel Fuse Inc. $BELFB

Beck Mack & Oliver LLC bought a new position in Bel Fuse Inc. (NASDAQ:BELFB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,500 shares of the electronics maker’s stock, valued at approximately $494,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock valued at $37,000 after buying an additional 151 shares during the last quarter. Federated Hermes Inc. raised its holdings in Bel Fuse by 52.5% in the 3rd quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 115 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Bel Fuse in the 3rd quarter valued at approximately $78,000. BNP Paribas Financial Markets lifted its position in Bel Fuse by 60.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock valued at $98,000 after acquiring an additional 375 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Bel Fuse by 437.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,038 shares of the electronics maker’s stock valued at $101,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Insider Buying and Selling at Bel Fuse

In related news, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director owned 15,047 shares in the company, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.37% of the company’s stock.

Bel Fuse Trading Up 1.3%

NASDAQ:BELFB opened at $197.65 on Friday. The company has a market cap of $2.50 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The company has a current ratio of 3.02, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $210.06 and a two-hundred day simple moving average of $172.98. Bel Fuse Inc. has a 12 month low of $57.99 and a 12 month high of $248.61.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, April 15th. Bel Fuse’s dividend payout ratio (DPR) is 5.70%.

Wall Street Analyst Weigh In

BELFB has been the subject of a number of research analyst reports. Weiss Ratings lowered Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 25th. Wall Street Zen raised Bel Fuse from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Needham & Company LLC increased their price objective on Bel Fuse from $212.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Northland Securities set a $266.00 price objective on Bel Fuse in a report on Thursday, February 19th. Finally, Zacks Research lowered Bel Fuse from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.20.

About Bel Fuse

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.