Phocas Financial Corp. Buys Shares of 23,091 Bel Fuse Inc. $BELFB

by · The Markets Daily

Phocas Financial Corp. bought a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFBFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 23,091 shares of the electronics maker’s stock, valued at approximately $3,917,000.

Several other hedge funds have also bought and sold shares of BELFB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bel Fuse by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,127 shares of the electronics maker’s stock valued at $459,000 after purchasing an additional 240 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bel Fuse by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,939 shares of the electronics maker’s stock worth $971,000 after acquiring an additional 116 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Bel Fuse by 2.5% in the 2nd quarter. Rhumbline Advisers now owns 15,972 shares of the electronics maker’s stock worth $1,560,000 after acquiring an additional 383 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Bel Fuse in the 2nd quarter worth approximately $312,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bel Fuse by 9.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,953 shares of the electronics maker’s stock worth $386,000 after acquiring an additional 337 shares during the last quarter. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Down 0.2%

Shares of NASDAQ BELFB opened at $237.34 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 3.02 and a debt-to-equity ratio of 0.46. Bel Fuse Inc. has a 52 week low of $64.00 and a 52 week high of $248.61. The firm’s fifty day moving average is $217.19 and its 200 day moving average is $184.22. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 2.42 and a beta of 1.56.

Bel Fuse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, April 15th. Bel Fuse’s payout ratio is presently 5.70%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BELFB. Wall Street Zen lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Needham & Company LLC boosted their price objective on shares of Bel Fuse from $212.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Weiss Ratings lowered shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 25th. Zacks Research lowered shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Northland Securities set a $266.00 price objective on shares of Bel Fuse in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.50.

Get Our Latest Stock Analysis on BELFB

Insider Buying and Selling at Bel Fuse

In related news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of Bel Fuse stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of Bel Fuse stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the transaction, the director directly owned 15,047 shares in the company, valued at approximately $3,592,471.25. The trade was a 23.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.37% of the stock is owned by insiders.

Bel Fuse Company Profile

(Free Report)

Bel Fuse Inc is a global manufacturer of electronic components that bridge power, data and video applications. The company offers a comprehensive portfolio of products, including board-level circuit protection devices such as fuses, positive temperature coefficient (PTC) resistors and inductors; power transformers, modules and supplies; as well as connectivity solutions encompassing USB, HDMI, RJ45, coaxial and fiber-optic connectors. These products serve a wide array of end markets, including telecommunications, data communications, consumer electronics, industrial automation, automotive and renewable energy.

Founded in 1949 and headquartered in Oradell, New Jersey, Bel Fuse has grown through organic expansion and strategic acquisitions.

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