Principal Financial Group Inc. Has $563,000 Position in Bel Fuse Inc. (NASDAQ:BELFB)

Principal Financial Group Inc. boosted its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,631 shares of the electronics maker’s stock after acquiring an additional 823 shares during the quarter. Principal Financial Group Inc.’s holdings in Bel Fuse were worth $563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Beach Investment Counsel Inc. PA bought a new position in Bel Fuse during the 2nd quarter valued at about $25,000. Comerica Bank increased its holdings in shares of Bel Fuse by 223.7% during the first quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock worth $45,000 after buying an additional 510 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Bel Fuse by 373.5% in the first quarter. New York State Teachers Retirement System now owns 947 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 747 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Bel Fuse in the 4th quarter worth approximately $78,000. Finally, Creekmur Asset Management LLC bought a new stake in Bel Fuse during the 4th quarter worth approximately $143,000. Institutional investors and hedge funds own 58.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Needham & Company LLC lifted their price objective on Bel Fuse from $68.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Bel Fuse from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Northland Securities upgraded Bel Fuse from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, September 5th. Finally, Northland Capmk upgraded Bel Fuse from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Bel Fuse Price Performance

BELFB opened at $69.30 on Friday. The stock has a market cap of $869.72 million, a P/E ratio of 11.67 and a beta of 1.34. Bel Fuse Inc. has a 12 month low of $39.13 and a 12 month high of $76.09. The company has a quick ratio of 2.76, a current ratio of 4.19 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $66.55 and a 200 day simple moving average of $63.17.

Bel Fuse (NASDAQ:BELFB) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.58. Bel Fuse had a return on equity of 20.97% and a net margin of 11.81%. The company had revenue of $133.21 million for the quarter, compared to analyst estimates of $130.27 million. During the same quarter last year, the firm posted $1.95 earnings per share. On average, research analysts expect that Bel Fuse Inc. will post 4.52 EPS for the current year.

Bel Fuse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, October 15th. Bel Fuse’s payout ratio is currently 4.71%.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries in the United States, the People's Republic of China, Macao, the United Kingdom, Slovakia, Germany, India, Switzerland, and internationally.