Ballast Asset Management LP Sells 5,840 Shares of Bel Fuse Inc. $BELFB

Ballast Asset Management LP decreased its position in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 24.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,653 shares of the electronics maker’s stock after selling 5,840 shares during the quarter. Bel Fuse makes up 1.9% of Ballast Asset Management LP’s investment portfolio, making the stock its 25th largest position. Ballast Asset Management LP’s holdings in Bel Fuse were worth $4,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in Bel Fuse by 22.7% during the 1st quarter. Janus Henderson Group PLC now owns 760,141 shares of the electronics maker’s stock worth $150,587,000 after acquiring an additional 140,804 shares during the period. Tidal Investments LLC boosted its holdings in Bel Fuse by 49.4% in the 2nd quarter. Tidal Investments LLC now owns 211,805 shares of the electronics maker’s stock valued at $70,540,000 after purchasing an additional 70,014 shares during the period. Navellier & Associates Inc. boosted its holdings in Bel Fuse by 227.0% in the 2nd quarter. Navellier & Associates Inc. now owns 6,951 shares of the electronics maker’s stock valued at $2,315,000 after purchasing an additional 4,825 shares during the period. Congress Asset Management Co. bought a new position in Bel Fuse in the 3rd quarter valued at $63,101,000. Finally, Empowered Funds LLC purchased a new position in shares of Bel Fuse during the 1st quarter valued at $351,000. Institutional investors own 58.39% of the company’s stock.

Insider Activity

In other Bel Fuse news, Director Vincent Vellucci sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $235.15, for a total transaction of $235,150.00. Following the transaction, the director owned 7,434 shares in the company, valued at approximately $1,748,105.10. This represents a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter E. Gilbert sold 500 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.12, for a total value of $146,060.00. Following the completion of the sale, the director directly owned 750 shares in the company, valued at approximately $219,090. The trade was a 40.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,893 shares of company stock worth $476,949 in the last quarter. 5.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Bel Fuse from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Citigroup assumed coverage on Bel Fuse in a research report on Monday, July 13th. They set a “buy” rating for the company. Northland Securities set a $326.00 price objective on Bel Fuse in a report on Friday, July 31st. B. Riley Financial assumed coverage on shares of Bel Fuse in a research report on Tuesday, July 14th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.67.

Bel Fuse Stock Up 8.5%

NASDAQ BELFB opened at $224.35 on Tuesday. The company has a 50-day simple moving average of $235.08 and a two-hundred day simple moving average of $248.39. Bel Fuse Inc. has a 12-month low of $133.71 and a 12-month high of $335.29. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 51.77, a PEG ratio of 1.61 and a beta of 1.70.

Bel Fuse (NASDAQ:BELFB) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.89). The company had revenue of $220.51 million for the quarter, compared to analysts’ expectations of $215.74 million. Bel Fuse had a net margin of 7.34% and a return on equity of 8.53%. Equities analysts expect that Bel Fuse Inc. will post 7.05 earnings per share for the current fiscal year.

Bel Fuse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. Bel Fuse’s payout ratio is currently 6.67%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures and markets products that power, protect and connect electronic circuits. Its offerings include power supplies and converters, circuit protection components, magnetic components, connectors, cable assemblies and networking products.

The company’s products serve customers in industries including telecommunications, networking, computing, industrial equipment, aerospace, defense and transportation. Bel Fuse sells products worldwide and operates across North America, Europe and Asia.

Founded in 1949, Bel Fuse has grown from a maker of electronic components into a supplier of products used in a wide range of electronic systems.