Insider Selling: Bel Fuse (NASDAQ:BELFA) CEO Sells $7,948,278.00 in Stock

Bel Fuse Inc. (NASDAQ:BELFA) CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $234.00, for a total transaction of $7,948,278.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Bel Fuse Trading Down 1.0%

Bel Fuse stock opened at $211.95 on Friday. Bel Fuse Inc. has a 12-month low of $53.95 and a 12-month high of $227.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.02 and a quick ratio of 1.71. The stock has a market capitalization of $2.68 billion, a PE ratio of 45.58 and a beta of 1.23. The firm has a 50 day simple moving average of $186.24 and a 200-day simple moving average of $147.15.

Bel Fuse (NASDAQ:BELFA) last announced its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.10 by $0.78. The firm had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $172.01 million. Bel Fuse had a return on equity of 21.78% and a net margin of 9.11%.

Bel Fuse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.24 annualized dividend and a yield of 0.1%. Bel Fuse’s dividend payout ratio (DPR) is currently 5.16%.

Hedge Funds Weigh In On Bel Fuse

A number of institutional investors have recently bought and sold shares of BELFA. Rhumbline Advisers lifted its stake in Bel Fuse by 41.5% during the first quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock valued at $188,000 after buying an additional 767 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Bel Fuse during the second quarter valued at approximately $330,000. Cynosure Group LLC lifted its position in shares of Bel Fuse by 23.2% in the 2nd quarter. Cynosure Group LLC now owns 5,302 shares of the scientific and technical instruments company’s stock valued at $476,000 after acquiring an additional 1,000 shares in the last quarter. Gabelli Funds LLC boosted its stake in Bel Fuse by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock worth $6,056,000 after purchasing an additional 200 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Bel Fuse by 447.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 6.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Robert W. Baird set a $250.00 target price on shares of Bel Fuse in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $182.50.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.