Bel Fuse (NASDAQ:BELFB) Sets New 1-Year High Following Dividend Announcement

Bel Fuse Inc. (NASDAQ:BELFB) reached a new 52-week high of $160.36 following a dividend announcement. The stock last traded at $159.42, up from a previous close of $153.99. A dividend of $0.07 will be paid on January 30th to investors of record on January 15th, representing an annualized yield of 0.2%. Analysts have raised price targets for the stock, with a consensus rating of "Buy" and an average target of $164.20. Institutional investors hold 58.39% of the stock.

Bel Fuse Inc. (NASDAQ:BELFB - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $160.36 and last traded at $159.42, with a volume of 125176 shares. The stock had previously closed at $153.99.The newly announced dividend which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a $0.07 dividend. The ex-dividend date is Thursday, January 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Bel Fuse's dividend payout ratio is currently 5.38%.

Analyst Ratings Changes

BELFB has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price objective on Bel Fuse from $130.00 to $168.00 and gave the company a "buy" rating in a report on Thursday. Robert W. Baird set a $170.00 price target on Bel Fuse in a research note on Friday. Northland Securities set a $188.00 price target on Bel Fuse in a research note on Friday. Wall Street Zen upgraded Bel Fuse from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Bel Fuse in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $164.20.

Read Our Latest Stock Analysis on BELFB

Bel Fuse Stock Performance

The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.05 and a quick ratio of 1.72. The firm has a 50 day moving average price of $144.68 and a 200-day moving average price of $111.82.

Institutional Trading of Bel Fuse

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Bel Fuse by 1.4% during the first quarter. Vanguard Group Inc. now owns 917,097 shares of the electronics maker's stock worth $68,654,000 after purchasing an additional 12,808 shares in the last quarter. American Century Companies Inc. raised its stake in Bel Fuse by 1.5% in the first quarter. American Century Companies Inc. now owns 357,131 shares of the electronics maker's stock valued at $26,735,000 after buying an additional 5,376 shares in the last quarter. Bessemer Group Inc. raised its stake in Bel Fuse by 28.3% in the second quarter. Bessemer Group Inc. now owns 325,800 shares of the electronics maker's stock valued at $31,827,000 after buying an additional 71,895 shares in the last quarter. Geode Capital Management LLC raised its stake in Bel Fuse by 2.6% in the second quarter. Geode Capital Management LLC now owns 321,922 shares of the electronics maker's stock valued at $31,451,000 after buying an additional 8,243 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in Bel Fuse by 33.6% in the second quarter. Wasatch Advisors LP now owns 284,014 shares of the electronics maker's stock valued at $27,745,000 after buying an additional 71,390 shares in the last quarter. 58.39% of the stock is currently owned by institutional investors and hedge funds.

About Bel Fuse

(Get Free Report)

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.

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