Pinnacle Associates Ltd. Has $1.42 Million Stock Holdings in Bel Fuse Inc. $BELFB

Pinnacle Associates Ltd. lowered its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 28.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,041 shares of the electronics maker’s stock after selling 4,024 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Bel Fuse were worth $1,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its stake in shares of Bel Fuse by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 3,112 shares of the electronics maker’s stock valued at $439,000 after buying an additional 99 shares during the period. Canada Pension Plan Investment Board raised its stake in Bel Fuse by 6.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the electronics maker’s stock worth $156,000 after buying an additional 100 shares during the period. Federated Hermes Inc. boosted its holdings in Bel Fuse by 52.5% in the third quarter. Federated Hermes Inc. now owns 334 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 115 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Bel Fuse by 1.2% in the second 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. Finally, Jones Financial Companies Lllp increased its holdings in shares of Bel Fuse by 139.8% during the third quarter. Jones Financial Companies Lllp now owns 259 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 58.39% of the company’s stock.

Insider Buying and Selling at Bel Fuse

In other news, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter E. Gilbert sold 4,500 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $238.75, for a total transaction of $1,074,375.00. Following the completion of the sale, the director owned 15,047 shares of the company’s stock, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.37% of the company’s stock.

Bel Fuse Stock Up 1.2%

BELFB stock opened at $200.88 on Thursday. The firm has a market capitalization of $2.54 billion, a PE ratio of 40.91, a P/E/G ratio of 2.02 and a beta of 1.52. 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 twelve month low of $57.99 and a twelve month high of $248.61. The stock’s 50 day moving average is $209.05 and its 200-day moving average is $172.16.

Bel Fuse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.28 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is 5.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BELFB. Northland Securities set a $266.00 target price on Bel Fuse in a research report on Thursday, February 19th. Weiss Ratings lowered shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a report on Sunday. Needham & Company LLC raised their price objective on shares of Bel Fuse from $212.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, Zacks Research cut shares of Bel Fuse from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.20.

About Bel Fuse

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.