Sei Investments Co. Sells 23,974 Shares of Bel Fuse Inc. (NASDAQ:BELFB)

Sei Investments Co. lessened its stake in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 65.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,662 shares of the electronics maker’s stock after selling 23,974 shares during the quarter. Sei Investments Co.’s holdings in Bel Fuse were worth $826,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Beach Investment Counsel Inc. PA purchased a new position in shares of Bel Fuse during the second quarter valued at approximately $25,000. Isthmus Partners LLC bought a new stake in shares of Bel Fuse during the 2nd quarter worth approximately $39,000. Comerica Bank boosted its holdings in Bel Fuse by 223.7% during the 1st quarter. Comerica Bank now owns 738 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 510 shares during the period. Creekmur Asset Management LLC bought a new position in Bel Fuse in the 4th quarter valued at $143,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Bel Fuse in the 1st quarter valued at $173,000. 58.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BELFB has been the subject of several research analyst reports. StockNews.com upgraded Bel Fuse from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Northland Securities lifted their price objective on shares of Bel Fuse from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC upped their target price on shares of Bel Fuse from $68.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Northland Capmk raised shares of Bel Fuse from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 5th.

Bel Fuse Price Performance

BELFB opened at $80.86 on Wednesday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.61 and a beta of 1.34. The company has a current ratio of 4.19, a quick ratio of 2.76 and a debt-to-equity ratio of 0.17. Bel Fuse Inc. has a 12-month low of $39.13 and a 12-month high of $82.00. The business’s fifty day simple moving average is $69.33 and its 200-day simple moving average is $65.93.

Bel Fuse (NASDAQ:BELFB) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.58. The company had revenue of $133.21 million for the quarter, compared to analysts’ expectations of $130.27 million. Bel Fuse had a net margin of 11.81% and a return on equity of 20.97%. During the same period in the prior year, the business earned $1.95 EPS. On average, equities research analysts anticipate that Bel Fuse Inc. will post 4.52 earnings per share for the current fiscal year.

Bel Fuse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. Bel Fuse’s dividend payout ratio is presently 4.71%.

Bel Fuse Company Profile

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.