Victory Capital Management Inc. Grows Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Victory Capital Management Inc. increased its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 26.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,321 shares of the electronics maker’s stock after acquiring an additional 8,442 shares during the period. Victory Capital Management Inc. owned approximately 0.32% of Bel Fuse worth $3,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Global Investments purchased a new position in shares of Bel Fuse during the third quarter valued at approximately $479,000. Janney Montgomery Scott LLC boosted its position in shares of Bel Fuse by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 41,059 shares of the electronics maker’s stock valued at $3,224,000 after buying an additional 1,029 shares during the period. Roubaix Capital LLC boosted its position in shares of Bel Fuse by 16.4% during the third quarter. Roubaix Capital LLC now owns 64,399 shares of the electronics maker’s stock valued at $5,056,000 after buying an additional 9,069 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Bel Fuse by 168.0% during the third quarter. Pinnacle Associates Ltd. now owns 36,680 shares of the electronics maker’s stock valued at $2,880,000 after buying an additional 22,995 shares during the period. Finally, Tectonic Advisors LLC boosted its position in shares of Bel Fuse by 80.7% during the third quarter. Tectonic Advisors LLC now owns 17,742 shares of the electronics maker’s stock valued at $1,393,000 after buying an additional 7,922 shares during the period. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BELFB. Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th. StockNews.com lowered Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. Needham & Company LLC lifted their price target on shares of Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Northland Securities lifted their price target on shares of Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st.

Insider Buying and Selling

In related news, insider Stephen Dawson sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $77.65, for a total value of $116,475.00. Following the completion of the transaction, the insider now owns 14,832 shares of the company’s stock, valued at $1,151,704.80. The trade was a 9.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.37% of the stock is currently owned by insiders.

Bel Fuse Stock Performance

Bel Fuse stock opened at $79.41 on Friday. The company has a 50 day moving average price of $78.57 and a 200-day moving average price of $70.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.71 and a current ratio of 4.00. Bel Fuse Inc. has a fifty-two week low of $45.74 and a fifty-two week high of $85.91. The company has a market capitalization of $996.60 million, a PE ratio of 18.21 and a beta of 1.35.

Bel Fuse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Wednesday, January 15th. Bel Fuse’s dividend payout ratio (DPR) is 6.42%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company’s products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.