Gabelli Funds LLC Reduces Holdings in Bel Fuse Inc. (NASDAQ:BELFA)

Gabelli Funds LLC cut its stake in Bel Fuse Inc. (NASDAQ:BELFA) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,000 shares of the scientific and technical instruments company’s stock after selling 2,500 shares during the period. Gabelli Funds LLC’s holdings in Bel Fuse were worth $16,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Bel Fuse by 2,346.3% in the second quarter. Rhumbline Advisers now owns 1,957 shares of the scientific and technical instruments company’s stock valued at $158,000 after acquiring an additional 1,877 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Bel Fuse in the 2nd quarter valued at $444,000. Finally, Janney Montgomery Scott LLC raised its position in Bel Fuse by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,123 shares of the scientific and technical instruments company’s stock valued at $929,000 after purchasing an additional 1,063 shares during the last quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.

Bel Fuse Stock Down 0.5 %

Shares of NASDAQ:BELFA opened at $102.00 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.19 and a quick ratio of 2.76. The stock has a market cap of $1.29 billion, a P/E ratio of 18.12 and a beta of 1.28. Bel Fuse Inc. has a 1-year low of $38.82 and a 1-year high of $102.96. The firm has a fifty day moving average price of $86.25 and a 200 day moving average price of $78.95.

Bel Fuse (NASDAQ:BELFA) last announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.59. The business had revenue of $133.21 million during the quarter. Bel Fuse had a net margin of 11.81% and a return on equity of 21.62%.

Bel Fuse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Tuesday, October 15th. Bel Fuse’s payout ratio is currently 4.26%.

Bel Fuse Company Profile

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.