Renaissance Technologies LLC Purchases 4,027 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Renaissance Technologies LLC lifted its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,851 shares of the electronics maker’s stock after purchasing an additional 4,027 shares during the period. Renaissance Technologies LLC owned 2.46% of Bel Fuse worth $20,215,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BELFB. Beach Investment Counsel Inc. PA purchased a new stake in Bel Fuse in the second quarter worth about $25,000. Comerica Bank increased its stake in shares of Bel Fuse by 223.7% in the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 510 shares in the last quarter. New York State Teachers Retirement System lifted its position in Bel Fuse by 373.5% during the 1st quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 747 shares during the period. Creekmur Asset Management LLC bought a new stake in Bel Fuse during the fourth quarter worth about $143,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bel Fuse in the first quarter worth about $173,000. 58.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BELFB shares. Northland Capmk upgraded shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th. StockNews.com upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC increased their target price on Bel Fuse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Northland Securities raised Bel Fuse from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, September 5th.

Bel Fuse Stock Performance

Shares of BELFB opened at $79.79 on Friday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 13.43 and a beta of 1.34. The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17. Bel Fuse Inc. has a 12 month low of $39.13 and a 12 month high of $82.00. The business’s fifty day simple moving average is $67.21 and its two-hundred day simple moving average is $63.90.

Bel Fuse (NASDAQ:BELFB) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping the consensus estimate of $0.92 by $0.58. The company had revenue of $133.21 million during the quarter, compared to the consensus estimate of $130.27 million. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. During the same period last year, the company earned $1.95 EPS. Research analysts anticipate that Bel Fuse Inc. will post 4.52 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Tuesday, October 15th. Bel Fuse’s dividend payout ratio (DPR) is presently 4.71%.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.