Bel Fuse Inc. (NASDAQ:BELFA) Sees Significant Growth in Short Interest

Bel Fuse Inc. (NASDAQ:BELFA) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 39,338 shares, a growth of 51.7% from the February 26th total of 25,927 shares. Based on an average daily volume of 73,211 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are short sold.

Bel Fuse Stock Up 0.1%

Bel Fuse stock opened at $190.65 on Friday. Bel Fuse has a twelve month low of $53.95 and a twelve month high of $227.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 3.02. The firm has a market cap of $2.41 billion, a PE ratio of 41.00 and a beta of 1.19. The firm’s 50 day moving average price is $197.53 and its two-hundred day moving average price is $157.42.

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

Bel Fuse Dividend Announcement

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

Insider Activity at Bel Fuse

In other Bel Fuse news, Director Peter E. Gilbert sold 4,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $238.75, for a total value of $1,074,375.00. Following the transaction, the director owned 15,047 shares of the company’s stock, valued at approximately $3,592,471.25. This represents a 23.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Farouq Salem Ali Tuweiq sold 33,967 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $234.00, for a total value of $7,948,278.00. The disclosure for this sale is available in the SEC filing. 5.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bel Fuse

Hedge funds have recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV raised its position in Bel Fuse by 0.4% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 26,151 shares of the scientific and technical instruments company’s stock valued at $3,043,000 after acquiring an additional 100 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Bel Fuse by 3.9% during the 3rd quarter. Rhumbline Advisers now owns 3,196 shares of the scientific and technical instruments company’s stock worth $372,000 after acquiring an additional 121 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Bel Fuse by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock valued at $274,000 after purchasing an additional 150 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Bel Fuse by 92.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock valued at $37,000 after buying an additional 153 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Bel Fuse by 0.3% in the second quarter. Gabelli Funds LLC now owns 67,400 shares of the scientific and technical instruments company’s stock valued at $6,056,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 6.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird set a $250.00 target price on Bel Fuse in a research report on Thursday, February 19th. Weiss Ratings lowered Bel Fuse from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $250.00.

Bel Fuse Company Profile

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.