State Street Corp Has $17.76 Million Position in Bel Fuse Inc. (NASDAQ:BELFB)

State Street Corp cut its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,155 shares of the electronics maker’s stock after selling 2,332 shares during the period. State Street Corp owned 1.80% of Bel Fuse worth $17,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BELFB. Isthmus Partners LLC bought a new stake in shares of Bel Fuse in the 2nd quarter valued at $39,000. nVerses Capital LLC acquired a new stake in shares of Bel Fuse in the third quarter valued at approximately $39,000. BNP Paribas Financial Markets lifted its position in Bel Fuse by 10.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker’s stock worth $172,000 after buying an additional 200 shares in the last quarter. SG Americas Securities LLC acquired a new position in Bel Fuse during the third quarter valued at approximately $200,000. Finally, One Wealth Advisors LLC acquired a new stake in shares of Bel Fuse in the 3rd quarter valued at approximately $227,000. 58.39% of the stock is owned by institutional investors.

Insider Activity at Bel Fuse

In other news, VP Joseph Francis Berry sold 1,000 shares of Bel Fuse stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.30, for a total transaction of $80,300.00. Following the sale, the vice president now directly owns 8,023 shares in the company, valued at $644,246.90. The trade was a 11.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Dawson sold 1,500 shares of Bel Fuse stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the completion of the sale, the insider now directly owns 14,832 shares in the company, valued at approximately $1,151,704.80. This represents a 9.18 % decrease in their position. The disclosure for this sale can be found here. 5.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC upped their price objective on Bel Fuse from $79.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, November 18th. StockNews.com lowered shares of Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. Northland Securities boosted their price target on Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Oppenheimer started coverage on Bel Fuse in a report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Northland Capmk raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bel Fuse presently has a consensus rating of “Buy” and an average price target of $98.33.

Bel Fuse Price Performance

Shares of NASDAQ BELFB opened at $82.21 on Tuesday. The company has a current ratio of 4.00, a quick ratio of 2.71 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $80.61 and its 200-day moving average price is $73.06. The firm has a market capitalization of $1.03 billion, a P/E ratio of 18.86 and a beta of 1.33. Bel Fuse Inc. has a 1-year low of $45.74 and a 1-year high of $92.61.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. Bel Fuse’s dividend payout ratio (DPR) is presently 6.42%.

About Bel Fuse

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.