Principal Financial Group Inc. Buys New Position in Bel Fuse Inc. $BELFB

Principal Financial Group Inc. bought a new stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 14,722 shares of the electronics maker’s stock, valued at approximately $2,915,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Bel Fuse by 365.6% in the 4th quarter. Farther Finance Advisors LLC now owns 149 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 117 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Bel Fuse in the fourth quarter valued at approximately $33,000. Erste Asset Management GmbH acquired a new position in shares of Bel Fuse during the fourth quarter valued at approximately $83,000. BNP Paribas Financial Markets raised its holdings in Bel Fuse by 60.0% during the second quarter. BNP Paribas Financial Markets now owns 1,000 shares of the electronics maker’s stock worth $98,000 after purchasing an additional 375 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in Bel Fuse by 195.0% during the fourth quarter. Clearstead Advisors LLC now owns 590 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 390 shares in the last quarter. 58.39% of the stock is currently owned by institutional investors.

Bel Fuse Stock Down 3.4%

Shares of Bel Fuse stock opened at $242.43 on Thursday. Bel Fuse Inc. has a 1 year low of $123.14 and a 1 year high of $335.29. The company has a market cap of $3.08 billion, a P/E ratio of 55.22, a P/E/G ratio of 2.60 and a beta of 1.68. The company has a current ratio of 3.18, a quick ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $280.42 and a 200 day moving average price of $245.93.

Analysts Set New Price Targets

BELFB has been the subject of a number of research reports. Needham & Company LLC increased their price target on Bel Fuse from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. initiated coverage on Bel Fuse in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $370.00 price objective on the stock. Citigroup began coverage on Bel Fuse in a report on Monday, July 13th. They issued a “buy” rating for the company. Bank of America initiated coverage on Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating and a $330.00 target price for the company. Finally, B. Riley Financial initiated coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bel Fuse currently has a consensus rating of “Moderate Buy” and an average target price of $321.50.

Bel Fuse Company Profile

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.