Bel Fuse (NASDAQ:BELFA) Trading Up 6.8% After Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFA) shot up 6.8% during trading on Friday after the company announced a dividend. The company traded as high as $88.39 and last traded at $89.20. 5,985 shares changed hands during trading, a decline of 37% from the average session volume of 9,437 shares. The stock had previously closed at $83.51.

The newly announced dividend which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. Bel Fuse’s dividend payout ratio is presently 7.77%.

Bel Fuse Trading Up 1.4 %

The firm’s 50 day moving average price is $87.32 and its 200-day moving average price is $92.29. The stock has a market cap of $1.06 billion, a P/E ratio of 27.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.92 and a quick ratio of 2.71.

Bel Fuse (NASDAQ:BELFA) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.44. The firm had revenue of $149.86 million for the quarter, compared to the consensus estimate of $126.41 million. Bel Fuse had a net margin of 7.66% and a return on equity of 18.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Bel Fuse by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,079 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 223 shares during the period. MetLife Investment Management LLC lifted its position in Bel Fuse by 129.2% during the third quarter. MetLife Investment Management LLC now owns 1,098 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 619 shares during the period. Bank of America Corp DE lifted its position in Bel Fuse by 41.8% during the fourth quarter. Bank of America Corp DE now owns 1,648 shares of the scientific and technical instruments company’s stock valued at $148,000 after purchasing an additional 486 shares during the period. BNP Paribas Financial Markets lifted its position in Bel Fuse by 632.5% during the third quarter. BNP Paribas Financial Markets now owns 2,073 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 1,790 shares during the period. Finally, Barclays PLC lifted its position in Bel Fuse by 278.9% during the third quarter. Barclays PLC now owns 2,311 shares of the scientific and technical instruments company’s stock valued at $230,000 after purchasing an additional 1,701 shares during the period. Institutional investors own 6.01% of the company’s stock.

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.