3,750 Shares in Bel Fuse Inc. $BELFB Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Bel Fuse Inc. (NASDAQ:BELFB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,750 shares of the electronics maker’s stock, valued at approximately $1,249,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 worth $459,000 after buying an additional 240 shares during the period. JPMorgan Chase & Co. increased its position 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 valued at $971,000 after acquiring an additional 116 shares during the period. Rhumbline Advisers raised its stake in 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. purchased a new position in Bel Fuse in the 2nd quarter worth $312,000. Finally, The Manufacturers Life Insurance Company lifted its position in Bel Fuse by 9.3% during 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 period. Hedge funds and other institutional investors own 58.39% of the company’s stock.

Bel Fuse Stock Up 3.0%

Shares of BELFB stock opened at $250.36 on Friday. Bel Fuse Inc. has a 52-week low of $129.94 and a 52-week high of $335.29. The stock has a market cap of $3.62 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 2.70 and a beta of 1.71. The business has a 50-day simple moving average of $266.38 and a 200-day simple moving average of $257.45.

Bel Fuse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, October 15th. Bel Fuse’s dividend payout ratio is currently 6.76%.

Insider Buying and Selling

In other news, Director Vincent Vellucci sold 393 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $243.61, for a total transaction of $95,738.73. Following the sale, the director owned 8,434 shares of the company’s stock, valued at $2,054,606.74. This trade represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter E. Gilbert sold 500 shares of Bel Fuse stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $292.12, for a total transaction of $146,060.00. Following the transaction, the director directly owned 750 shares of the company’s stock, valued at approximately $219,090. This trade represents a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.37% of the stock is owned by company insiders.

Analyst Ratings Changes

BELFB has been the topic of a number of research reports. Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Bank of America initiated coverage on Bel Fuse in a report on Tuesday, July 14th. They set a “buy” rating and a $330.00 target price for the company. Northland Securities set a $326.00 target price on Bel Fuse in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Bel Fuse from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, B. Riley Financial began coverage on shares of Bel Fuse in a research note on Tuesday, July 14th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $324.00.

About Bel Fuse

Bel Fuse Inc is a designer, manufacturer and supplier of products used to protect, power and connect electronic circuits. The company serves original equipment manufacturers, contract manufacturers and distributors across a range of industries, including telecommunications, networking, computing, consumer electronics, automotive, industrial, medical, aerospace and defense.

Bel Fuse’s product portfolio includes circuit protection devices, connectors, cable assemblies, discrete components, magnetics, power supplies, power conversion products and related modules.