Principal Financial Group Inc. Sells 4,658 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Principal Financial Group Inc. lessened its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 54.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,973 shares of the electronics maker’s stock after selling 4,658 shares during the period. Principal Financial Group Inc.’s holdings in Bel Fuse were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Beach Investment Counsel Inc. PA purchased a new position in shares of Bel Fuse in the 2nd quarter worth about $25,000. Isthmus Partners LLC purchased a new position in shares of Bel Fuse in the 2nd quarter worth about $39,000. nVerses Capital LLC purchased a new position in shares of Bel Fuse in the 3rd quarter worth about $39,000. Comerica Bank raised its position 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 purchasing an additional 510 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Bel Fuse in the 3rd quarter worth about $200,000. Institutional investors own 58.39% of the company’s stock.

Insider Activity at Bel Fuse

In other news, insider Stephen Dawson sold 1,500 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $77.65, for a total transaction of $116,475.00. Following the transaction, the insider now owns 14,832 shares of the company’s stock, valued at approximately $1,151,704.80. This represents a 9.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.37% of the stock is currently owned by insiders.

Bel Fuse Stock Up 2.9 %

Shares of BELFB opened at $79.41 on Monday. The stock has a market capitalization of $996.60 million, a price-to-earnings ratio of 18.21 and a beta of 1.35. Bel Fuse Inc. has a 1 year low of $45.74 and a 1 year high of $85.91. The business’s 50 day simple moving average is $78.57 and its 200-day simple moving average is $70.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.71.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.28 annualized dividend and a yield of 0.35%. Bel Fuse’s payout ratio is presently 6.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BELFB shares. StockNews.com lowered Bel Fuse from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. Northland Capmk raised Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th. Needham & Company LLC boosted their price target on 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 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.

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.