Summit Global Investments Raises Holdings in Bel Fuse Inc. (NASDAQ:BELFB)

Summit Global Investments lifted its holdings in shares of Bel Fuse Inc. (NASDAQ:BELFB) by 34.7% in the fourth quarter, HoldingsChannel reports. The firm owned 8,209 shares of the electronics maker’s stock after acquiring an additional 2,114 shares during the period. Summit Global Investments’ holdings in Bel Fuse were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BELFB. BNP Paribas Financial Markets boosted its position in Bel Fuse by 10.0% during the third quarter. BNP Paribas Financial Markets now owns 2,197 shares of the electronics maker’s stock worth $172,000 after acquiring an additional 200 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Bel Fuse during the third quarter worth approximately $288,000. SG Americas Securities LLC boosted its position in Bel Fuse by 45.0% during the fourth quarter. SG Americas Securities LLC now owns 3,693 shares of the electronics maker’s stock worth $305,000 after acquiring an additional 1,146 shares during the last quarter. Principal Financial Group Inc. boosted its position in Bel Fuse by 6.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,222 shares of the electronics maker’s stock worth $348,000 after acquiring an additional 249 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Bel Fuse during the fourth quarter worth approximately $371,000. 58.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on BELFB shares. StockNews.com lowered shares of Bel Fuse from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Needham & Company LLC lifted their price target on shares of Bel Fuse from $95.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Oppenheimer started coverage on shares of Bel Fuse in a report on Tuesday, December 17th. They issued an “outperform” rating and a $105.00 price target on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bel Fuse presently has an average rating of “Buy” and a consensus target price of $100.00.

Bel Fuse Stock Down 1.8 %

Shares of BELFB opened at $73.55 on Monday. The firm has a market cap of $922.24 million, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.12. The company’s fifty day moving average is $80.36 and its two-hundred day moving average is $79.56. Bel Fuse Inc. has a fifty-two week low of $53.74 and a fifty-two week high of $92.61. The company has a quick ratio of 1.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.80.

Bel Fuse (NASDAQ:BELFB) last announced its quarterly earnings results on Tuesday, February 18th. The electronics maker reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($1.10). Bel Fuse had a net margin of 7.66% and a return on equity of 12.37%. The company had revenue of $149.86 million during the quarter, compared to analyst estimates of $126.41 million. During the same quarter last year, the business earned $1.29 EPS. Analysts forecast that Bel Fuse Inc. will post 4.63 earnings per share for the current year.

Bel Fuse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, April 15th. Bel Fuse’s payout ratio is 8.56%.

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.