Geode Capital Management LLC Raises Stake in Bel Fuse Inc. (NASDAQ:BELFB)

Geode Capital Management LLC raised its stake in Bel Fuse Inc. (NASDAQ:BELFB) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 289,298 shares of the electronics maker’s stock after buying an additional 6,250 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of Bel Fuse worth $22,716,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Bel Fuse by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 309,851 shares of the electronics maker’s stock valued at $20,215,000 after buying an additional 4,027 shares in the last quarter. American Century Companies Inc. grew its holdings in Bel Fuse by 11.6% in the 2nd quarter. American Century Companies Inc. now owns 276,265 shares of the electronics maker’s stock valued at $18,024,000 after buying an additional 28,649 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Bel Fuse by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 256,172 shares of the electronics maker’s stock worth $20,109,000 after purchasing an additional 25,607 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Bel Fuse by 7.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 179,503 shares of the electronics maker’s stock worth $14,093,000 after purchasing an additional 12,007 shares during the period. Finally, Portolan Capital Management LLC grew its holdings in shares of Bel Fuse by 122.8% during the 3rd quarter. Portolan Capital Management LLC now owns 120,858 shares of the electronics maker’s stock worth $9,489,000 after purchasing an additional 66,621 shares during the period. 58.39% of the stock is currently owned by hedge funds and other institutional investors.

Bel Fuse Trading Down 3.5 %

NASDAQ:BELFB opened at $81.45 on Friday. The stock’s 50 day moving average price is $80.53 and its 200 day moving average price is $73.45. The company has a market capitalization of $1.02 billion, a PE ratio of 18.68 and a beta of 1.33. The company has a quick ratio of 2.71, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. Bel Fuse Inc. has a 52-week low of $45.74 and a 52-week high of $92.61.

Bel Fuse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $0.07 per share. 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 is presently 6.42%.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

Bel Fuse 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.