News

Sep 02, 2023

HRT Financial LP Purchases New Stake in Bel Fuse Inc. (NASDAQ:BELFB)

HRT Financial LP purchased a new stake in Bel Fuse Inc. (NASDAQ:BELFB - Get

HRT Financial LP purchased a new stake in Bel Fuse Inc. (NASDAQ:BELFB - Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,210 shares of the electronics maker's stock, valued at approximately $533,000. HRT Financial LP owned approximately 0.13% of Bel Fuse at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Lazard Asset Management LLC lifted its position in shares of Bel Fuse by 1,481.9% in the first quarter. Lazard Asset Management LLC now owns 1,835 shares of the electronics maker's stock valued at $32,000 after acquiring an additional 1,719 shares in the last quarter. UBS Group AG increased its stake in Bel Fuse by 105.1% during the first quarter. UBS Group AG now owns 2,053 shares of the electronics maker's stock worth $37,000 after acquiring an additional 1,052 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Bel Fuse during the third quarter worth about $40,000. Advisor Group Holdings Inc. boosted its position in shares of Bel Fuse by 704.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,619 shares of the electronics maker's stock worth $65,000 after buying an additional 3,169 shares during the period. Finally, Blair William & Co. IL purchased a new stake in shares of Bel Fuse in the first quarter worth about $206,000. 50.27% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Peter E. Gilbert sold 5,000 shares of the business's stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $44.59, for a total transaction of $222,950.00. Following the completion of the transaction, the director now owns 18,750 shares of the company's stock, valued at approximately $836,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.37% of the company's stock.

BELFB has been the subject of a number of analyst reports. StockNews.com began coverage on Bel Fuse in a report on Thursday, May 18th. They issued a "strong-buy" rating for the company. Needham & Company LLC increased their price target on Bel Fuse from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 24th.

Shares of BELFB stock opened at $52.60 on Friday. Bel Fuse Inc. has a 1-year low of $14.84 and a 1-year high of $52.69. The company has a current ratio of 2.95, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $671.70 million, a price-to-earnings ratio of 10.56 and a beta of 1.72. The stock's fifty day simple moving average is $40.31 and its 200-day simple moving average is $37.19.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. Bel Fuse's dividend payout ratio is currently 5.62%.

Bel Fuse, Inc engages in the design, manufacture, and marketing of products that power, protect, and connect electronic circuits. It operates through the following segments: Cinch Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions, and Corporate. The company was founded by Elliot Bernstein in 1949 and is headquartered in Jersey City, NJ.

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